Ph Trade Mission Gets $3 Million Agro-Industrial Project Pledge

The recent road show conducted by the Philippine Export Processing Zone Authority (PEZA) has so far yielded a $3-million pledge for an agro-industrial project in Mindanao, Commercial Attaché Eric Elnar told The Filipino Times.

“There are a number of pledges or expressions of intent to invest in the Philippines after the PEZA Investment Conference,” Elnar said.

“One such concrete pledge is a $3 million agro-industrial project in Mindanao. Aside from this, there also are interests to put up a branch office, distribution office, warehousing facilities, travel agency, logistics services, from different UAE-based companies,” he added.

Elnar declined to divulge more details about the project pending consummation of an agreement.

Leading the PEZA trade mission to Dubai was the agency’s chief, Director General Charito B. Plaza who gave an hour-long presentation about investment opportunities in the Philippines. Some 70 businessmen attended the event, held Feb. 12 at Shangri-La Hotel Dubai, most of whom made serious inquiries during the question-and-hour portion, which also took about an hour.

Plaza’s presentation focused on the unprecedented economic growth being experienced in the Philippines which stood at 7.1 percent in 2016, according to the Philippine Statistics Authority (PSA). Bloomberg said it did surveyed 15 economists and got a median estimate of 6.7 percent.

Moreover, Bloomberg, a global business news portal, said the Philippine economy is set to expand by more than six percent till 2018 “to rank among the fastest growing in the world.”

Plaza also rolled out tax incentive programs even as she touted the Philippines’ workforce which she said has a high literacy rate of 94.6%, English speaking, easy to train and hardworking.

(Source: FilipinoTimes.ae)