Performance of Philippine Economic Zone Authority (PEZA)

President Benigno Aquino III lauded the performance of the Philippine Economic Zone Authority (PEZA), saying the government agency is an ally in bringing back dignity in governance and uplifting the condition of the people.

Speaking at the 16th foundation anniversary of PEZA on Thursday night, the Chief Executive cited PEZA as a partner, together with investors, in achieving progress in the country.

“To all our partners, this administration is eager to rebuild this nation. We are committed to fast-track the presentation of the approval and implementation of your projects,” the President told the PEZA officials and investors who attended the occasion.

“We are eager to show the world what the Filipino can do. We are eager to restore our national dignity. The world is beginning to see what we are capable of,” he said.

The President said that from Day One of his administration, he has acknowledged the importance of private capital in addressing the present concerns of the country.

“We are striving to create an environment where businesses will flourish, so the government can focus its resources on much needed social services such as the improvement of our health and education as well as reducing hunger and poverty,” he said.

The President noted that since 1995 the administration of PEZA Director General Lilia de Lima has been characterized by clean governance and zero red tape, pampering investors fully, who show interest in putting their money in the Philippines.

Since 1995, PEZA generated a total of P1.71 trillion worth of investments in the Philippines, the President said. In 2010 alone, total investment in PEZA reached almost P205 billion, more than 17 percent higher than the 2009 record.

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