PEZA

Good dividends

February 1, 2025 People's Tonight 149 views

EFFORTS to encourage foreign firms and businessmen to invest in the Philippines are paying “good dividends.”

Without doubt, foreign investments play a stellar role in speeding up the country’s socio-economic development.

The setting up of more foreign-owned firms in the Philippines is seen to address joblessness and underemployment.

Many Filipinos still seek employment overseas, particularly the United States, where the pay of workers is high.

That’s why we doff our hat to a South Korean firm for its decision to set up a business in the Philippines.

The firm, LCS Emon Commercial Corporation, will assemble electric vehicles (EVs) in Malvar, Batangas.

The firm will assemble e-jeepneys, e-mini buses, as well as two-three-wheeled EVS. according to reports.

Last Friday, the Philippine Economc Zone Authority (PEZA) signed a registration agreement with the Korean firm.

Note that over 200 South Korean firms are registered with PEZA, employing more than 35,000 Filipino workers.

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