PEZA advises investors not to be concerned by PH politics
Director-General Charito Plaza of the Philippine Economic Zone Authority (PEZA) has assured investors that their investments in the country would be secure despite a change in government after the national elections next year.
Plaza said at a meeting with Malaysian investors on October 14, 2021, that she is optimistic that the new leader would be supportive of PEZA.
“Let’s not get caught up in politics. “Pray for the best leader to emerge in this next election,” she added.
Plaza noted that, despite changes in the incentive regime after the passage of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) legislation under the Duterte administration, the agency and different sectors were able to offer feedback for the law’s development.
Meanwhile, Tereso Panga, deputy director-general of PEZA, said that the agency would streamline the granting of a PEZA visa to international locators.
“The Department of Justice (DOJ) will now be removed from the process,” Panga said.
Foreign nationals in PEZA zones must now get a visa from the DOJ.
Panga went on to say that the streamlined procedure of obtaining a PEZA visa will adhere to the Anti-Red Tape Authority (ARTA) guideline of providing papers in three days for basic transactions, seven days for complicated operations, and 21 days for highly technical transactions.
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