PEZA: Foreign investors eyeing to relocate in Phl

CEBU, Philippines – The generally peaceful and competent labor force and the government's efforts to revive manufacturing in the Philippines seem to have paid off as more foreign investors are now looking at the country as their top choice for plant expansion or relocation.

"Compared to other neighboring countries, the Philippines is blessed with a peaceful labor force who are young, competent and English speaking, a big factor for foreign direct investors," said economist Bernardo Villegas giving the assurance that the robust Philippine economy will soon get a good balance, when hiring of manufacturing-based job requirements will start.

Philippine Economic Zone Authority director general Lilia de Lima, in her recent visits in Japan, noted the rising demand for more areas where they can setup manufacturing plants.

"Japanese companies cannot go to China because the labor issues are no longer favorable. De Lima has already been going around encouraging developers to look at non-traditional areas for manufacturing. The demand from Japan is overwhelming and our current economic zones cannot cater to all of the demand," said Villegas adding that the Philippines should move on establishing more economic zones to grab the opportunity outright.

Dumaguete City for instance, Villegas suggested can be a good area for economic zone expansions, where there is good supply of graduates from Silliman University.

"We are also right at the middle of everything and has very good potential to become the gateway for global companies to enter the ASEAN market."

Amid these opportunities and rosy prospects for the Philippines, Villegas on the other hand warned that the country needs to make some changes in policies especially in with regards to accommodating the foreign direct investments to lure more investors to come because they can be assured of an equal footing or a level playing field when they invest here.

Earlier, De Lima urged the private developers in Cebu to build more economic zones, as interest from international investors, especially from Japan has heightened.

De Lima said Cebu should leverage its inviting environment for investors and make it easier for them to locate here by providing ready-facility like economic zone developments.

"Cebu has all the amenities of a cosmopolitan city," De Lima said expressing optimism that investors would prefer to locate in Cebu for its attractive and conducive environment for both business and leisure.