Articles worth reading

Metro News

Photo courtesy of PEZA

PEZA signs two agreements with Japanese companies

account_balanceMetro News account_circleLinda Flores chat_bubble_outline0 Comments

The Philippine Economic Zone Authority (PEZA) on Tuesday said it signed two agreements with Japanese firms with the aim to attract more investments in the country’s renewable energy and manufacturing sectors, according to a report by Philippine News Agency.

In a statement, PEZA said it signed a memorandum of understanding (MOU) with Junca Global Partner, Inc. and a Registration Agreement with Kurabe Industrial Philippines, Inc. during the investment mission in Japan last Nov. 14 to 18.

The MOU with Junca aims to promote the Philippines as an investment destination for startup companies engaged in the fourth industrial revolution.


The MOU also targets to strengthen collaboration and partnership between Filipino and Japanese startups to bolster the country’s innovation-driven industries, particularly innovation in renewable energy.

“With the signed MOU, PEZA and Junca will collaborate in bringing renewable energy technologies to ecozones and thereby enable locator companies to remain globally competitive while at the same time contributing to mitigating the effects of climate change pursuant to the Kyoto Protocol and the Paris Agreement,” PEZA officer-in-charge Tereso Panga said.

Junca Chair and Chief Executive Officer Dr. Hiyasuki Nagatome also committed to invest in the Philippines, not only in the renewable energy sector but also industries where Junca’s innovation and technology can be applied.

“I guarantee you that Junca Holdings will invest and bring in the latest technology in the Philippines through PEZA, especially in the field of artificial intelligence (AI), blockchain system, biotech and stem cell, and wellness products,” he said.

Moreover, PEZA sealed a Registration Agreement with Kurabe to put up its manufacturing facility for car seat heater, steering wheel heater, and heating wires in Batangas.

Kurabe has secured a 5-hectare land in Lima Technology Center Special Economic Zone in Lipa City.

Panga said Japanese companies have been a staunch partner of PEZA in bringing economic development in the country, and the agency will continue to explore new opportunities in partnering with more Japanese enterprises.

“We draw our guidance from the priority strategy of President Bongbong Marcos which are into economy, agriculture, and renewable energy. We are also guided by DTI’s Science Technology Innovation-driven industrialization strategy,” he added.

Japanese firms are the largest investors in PEZA economic zones.

To date, there are 898 Japanese companies registered with PEZA, with total investments of PHP739.6 billion and employing 351,335 personnel.

From January to September 2022, Japanese firms invested PHP11.3 billion worth of projects within PEZA zones.

Export revenues of Japanese firms operating within the ecozones reached USD13.26 billion in the first nine months of the year.

date_rangeDate Published
1 week ago
shareShare article
folder_openArticle tags
content_copyCategorized under

Share your thoughts with us

Related Articles

Photo Courtesy of SPD Facebook Page

SPD holds Christmas lighting ceremony

account_balanceMetro Manila chrome_reader_mode8 hours ago

It’s beginning to look a lot like Christmas at Southern Police District as it held its Ceremonial Lighting of Christmas Tree, Light, and Nativity at exactly 7:00 in the evening on the 1st day of December 2022 in front of SPD Admin Building Head...

DOH detects Omicron BQ.1 subvariant

account_balanceMetro Manila chrome_reader_mode4 days ago

Preparatory activities — including ensuring enough health facilities — have been launched following the detection of the new Omicron sublineage BQ.1 in the country, the Department of Health (DOH) said in a report by CNN Philippines. &ldq...

Creamline beats PetroGazz in PVL semis 

account_balanceMetro Manila chrome_reader_mode1 week ago

Creamline banked on Turkish import Yeliz Basa and Jessica Margarett Galanza to pull off a 25-21, 25-20, 25-23 victory over Petro Gazz at the start of the semifinal round of the Premier Volleyball League Reinforced Conference at the PhilSports Arena i...

Bill imposes tougher fines on game-fixing 

account_balanceMetro Manila chrome_reader_mode3 days ago

The House of Representatives on Monday approved on the third and final reading the measure that will expand the elements and will impose stiffer penalties for game-fixing in professional and amateur sports contests, according to  report by ...

Click on the article to continue reading
Quezon City adopts no contact apprehension system Red Cross pushes saliva test Vaccines from COVAX to arrive in Q1 Makati Shangri-La to close doors on Feb. 1 Cities in NCR to start vaccination simultaneously Mother, girlfriend of Filipino infected with UK variant also test positive Send Press Release MNC Facebook Page MNC Twitter Page MNC Instagram Page LGU Spotlight Barangay Front Business Sports Entertainment Metro Gen Metro Feature