The investments came from manufacturers of high-technology products such as TDK Corp., which plans to invest P7.2 billion; Taiyo Yuden, P1.6 billion; Terumo Corp., P1 billion; and Almex Technologies, P1 billion.
The data-sharing agreement now allows PEZA to have access in tracking, monitoring, and auditing the location and condition of cargoes, as well as obtain real-time alarms on diversion and tampering of cargoes.
In a bid to strengthen the science, technology, and innovation (STI) initiatives of the country, PEZA and DOST have signed an agreement to establish Knowledge, Innovation, Science and Technology (KIST) Ecozones in the country.
Under the MOU, the DICT will assess and evaluate as well as assist in the development and enhancement of current applications and systems of PEZA and provide recommendations and strategy for the improvement of the agency’s ICT system.
As of 2022, there are a total of 1,582 IT-BPO industry activities registered in PEZA which generated a total of P337.593 billion investments, and 1,095,622 direct jobs.
The transfers are merely “paper-transfer”, which means the BPO firms do not have to relocate outside economic zones or IT parks under PEZA and will still enjoy their current tax perks.
BPO firms can become eligible for increased work-from-home (WFH) setup by shifting their registration from the Philippine Economic Zone Authority (PEZA) to the Board of Investments (BOI).
The Philippine Economic Zone Authority (PEZA) said at least four foreign-based hyperscalers are looking into investing in the country but are still waiting for the developments of the May 9 polls before proceeding to their investment decision.
PEZA now says the CREATE law does not prohibit registered IT-BPM firms from conducting remote work or performing a portion of their activity outside the economic zones.
