THE Philippine Economic Zone Authority (PEZA) said it appointed BDO Unibank, Inc. as its investment promotion partner.
In a Facebook post on Wednesday, PEZA said it signed a memorandum of understanding (MoU) with BDO on March 10.
“This MoU solidifies a powerful synergy between PEZA’s mandate and BDO’s extensive network, its status as the only globally recognized Philippine bank with full international coverage, and its financial expertise in supporting trade, commerce, and investments,” said PEZA.
“PEZA recognizes BDO’s strong commitment to financial inclusion and business expansion, which aligns perfectly with its goal of driving regional development, enhancing competitiveness, and positioning the Philippines as a top investment destination,” it added.
PEZA now has four partner banks for trade, commerce, and investment support and facilitation, the others being Sumitomo Mitsui Banking Corp., Rizal Commercial Banking Corp., and HSBC.
“Through strategic partnerships like this, we further strengthen our capacity to attract both foreign and local investors and ensure that our economic zones continue to be prime locations for growth, innovation, and sustainability,” PEZA Director General Tereso O. Panga said.
BDO is a member of the SM Group, which operates 25 information technology centers and parks hosting 76 PEZA locators.
“Together with PEZA, we aim to maximize the benefits of the CREATE MORE Law and its newly signed IRR to drive more foreign direct investment,” BDO Executive Vice-President and Head of Institutional Banking Group Charles M. Rodriguez said.
Signed into law on Nov. 12, CREATE MORE, or the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy Act, aims to increase foreign direct investment.
In a separate statement, PEZA said it signed a supplemental agreement with Collins Aerospace to expand the company’s operations at the First Philippine Industrial Park Special Economic Zone.
“The company’s registered activities now cover a broader scope, including manufacturing, assembly, distribution, and certification of aircraft interior components, as well as the repair, maintenance, and servicing of aerospace systems,” PEZA said.
“Through this strengthened collaboration, PEZA continues to foster a thriving, technology-driven investment landscape, positioning the Philippines as a key player in the global aerospace industry,” it added. — Justine Irish D. Tabile