The Philippine Economic Zone Authority (PEZA) said it expects more investments from South Korea, following the signing of the Philippines-South
“With South Korea’s status as the 10th largest GDP [gross domestic product] in the world and second most technologically advanced nation [next to Germany], the Philippines stands to benefit from this FTA which opens more opportunities for investors, increased market access, FDI inflows, higher value-added production and export diversification combined with deeper economic cooperation and innovation partnership,” said PEZA director-general Tereso Panga.
The amount was also 28.4 percent higher than the full-year investment of South Korea into the Philippines last year. Panga said PEZA was on track to achieving its targets for the year. The agency already achieved 72 percent of its P154.77-billion goal for 2023.
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