Numerous companies of Malaysia, the Middle East, China, Japan and others are now in discussions and being invited to invest in the Philippines’ tax-free industrial, agricultural, tourism, forestry, defense industry and other Special Economic Zones (SEZs) “due to President Rody Duterte’s new independent foreign policy to make the Philippines a friend of all countries and enemy of no one”, said the new director-general of Philippine Economic Zone Authority (PEZA) Dr. Charito “Ching” B. Plaza on November 21 at the Pandesal Forum of 77-year-old Kamuning Bakery Café in Quezon City.
PEZA Director-General Dr. Plaza said that the Philippines traditionally received foreign investments in the past from the United States and its allies like Japan and the West, but now investors and governments of other countries in the Middle East, Russia, China and other regions are also being invited to invest in the fast-growing economy of the Philippines. She said these defense industrial complexes can rise in Bataan, Zambales, Palawan, and at least in two areas of Mindanao.
