PEZA Signs Two Agreements With Japanese Firms

The Philippine Economic Zone Authority (PEZA) has stated that they have signed agreements with Japanese firms to entice more investments in the country, particularly in the manufacturing and renewable energy sectors.

PEZA released a statement saying that it had signed a  Registration Agreement with Kurabe Industrial Philippines, Inc. and a memorandum of understanding (MOU) with Junca Global Partner Inc. during their investment mission in Japan this month.

The Junca MOU is targeted toward promoting the Philippines as an investment place for startup companies as part of the fourth industrial revolution. This MOU likewise aims to strengthen partnerships and collaboration between Japanese and Filipino start-ups to boost the innovation-driven sectors in the country, specifically in the renewable energy sector.

“With the signed MOU, PEZA and Junca will collaborate in bringing renewable energy technologies to ecozones and thereby enable locator companies to remain globally competitive while at the same time contributing to mitigating the effects of climate change pursuant to the Kyoto Protocol and the Paris Agreement,”  mentioned PEZA officer-in-charge Tereso Panga.

Meanwhile, the PEZA Registration Agreement with Kuraba is geared towards establishing a manufacturing facility for heating wires, steering wheel heaters, and car seat heaters in Batangas.

Kurabe has already secured a 5-hectare land in Lipa City’s Lima Technology Center Special Economic Zone.

Panga has mentioned that the agency will continue to look for more opportunities in collaborating with more Japanese companies.

“We draw our guidance from the priority strategy of President Bongbong Marcos which are into the economy, agriculture, and renewable energy. We are also guided by DTI’s Science Technology Innovation-driven industrialization strategy,”  says Panga.

Source: Philippine News Agency