PEZA chief discusses CREATE MORE law with Carmelray locators

Calamba, Philippines – On November 21, 2024, Philippine Economic Zone Authority (PEZA) Director General Tereso O. Panga met with locators at Carmelray Industrial Park (CIP) II to provide updates on PEZA initiatives and the newly enacted CREATE MORE Act.

DG Panga emphasized PEZA’s ongoing efforts to enhance its ease of doing business model, aiming to attract strategic and high-value investments to the Philippines. He highlighted the benefits of the CREATE MORE Act, describing it as offering the region’s most competitive incentives.

“The CREATE MORE Act not only provides the most generous investment packages among ASEAN countries but also reinforces the government's push for a business-friendly environment,” Panga said. “This positions the Philippines as the top choice for global investors.”

The PEZA Chief also urged the Carmelray Group to expand its ecozones and foster partnerships with micro, small, and medium enterprises (MSMEs) in surrounding communities. This approach, he noted, would ensure economic benefits extend beyond the ecozones, fostering inclusive growth.

“We want communities outside our ecozones to thrive alongside us,” Panga added.

Francisco Zaldarriaga, Vice President of the Carmelray Group and President of the Philippine Ecozones Association (PHILEA), lauded PEZA for championing investor interests and advancing ecozone development.

The meeting concluded with plans for further dialogue between PEZA and the Carmelray Industrial Park Association, Inc., following the release of the Implementing Rules and Regulations (IRR) for the CREATE MORE Act.

The Carmelray Group, which operates three ecozones in the country, has attracted over PHP 60 billion in investments and created more than 25,000 jobs.