Manila: The Philippine Economic Zone Authority (PEZA) received an inbound mission from Okayama, Japan, seeking business opportunities in the country. In a statement Tuesday, PEZA reported that 20 manufacturing firms met with Director General Tereso Panga and other PEZA officials as they explored the potential of setting up operations in Philippine ecozones.

According to Philippines News Agency, the inbound mission was co-organized by the Philippine Trade and Investment Center-Osaka with the aim of boosting economic ties between Manila and Tokyo. Panga emphasized Japan’s prominent role as a top ecozone locator since 1995, highlighting the significant contributions Japanese firms have made to the Philippines’ electronics, automotive, and industrial sectors. He expressed optimism about the mission’s potential to strengthen collaboration and attract more Japanese companies to the country.

PEZA Deputy Director General for Policy and Planning Anidelle Joy Alguso presented the Philippines as a prime destination for Japanese investors by showcasing the country’s business-friendly environment, competitive incentives, and thriving economic zones. As part of the inbound mission, participants planned a visit to the Cavite Economic Zone and existing Japanese locator companies to gain firsthand experience of their operations within PEZA zones.

Currently, there are more than 800 PEZA-registered Japanese firms in the Philippines, with total investments amounting to PHP589 billion and generating 300,000 direct employment opportunities.