PEZA inks registration deal with 1st time Taiwanese investor

Manila: The Philippine Economic Zone Authority (PEZA) on Wednesday said it has signed a registration agreement with Taiwanese manufacturer EZconn for its new facility at the Lima Technology Center-Special Economic Zone in Lipa City, Batangas. In a statement, PEZA said EZconn is investing PHP70 million for a facility to produce high-precision optical fiber communication components, cables, connectors, and related products. Commercial operation will commence in the first quarter of 2025, PEZA said. 'EZconn's registration highlights the Philippines' appeal to foreign investors, particularly in the rapidly growing telecommunications and fiber optics industry,' PEZA Director General Tereso Panga said. 'It also aligns with PEZA's mission to enhance the competitiveness of the country's ecozones, fostering inclusive and sustainable development,' he added. EZconn's production output will be for export to the American, European, and Indonesian markets, with an annual boost to Philippine exports of USD3.14 million. The project will also create more than 50 direct jobs. PEZA said there were four Taiwanese projects from Taiwanese investors that the investment promotion agency approved between January and September this year. Their total investments amounted to PHP634.15 million. Source: Philippines News Agency