The Philippine Economic Zone Authority (PEZA) received an inbound mission from Okayama, Japan looking for business opportunities in the country.

In a statement Tuesday, PEZA said 20 manufacturing firms met with Director General Tereso Panga and other PEZA officials to explore business operations by setting up in ecozones.

The inbound mission, co-organized by Philippine Trade and Investment Center-Osaka, aimed to boost economic ties between the Manila and Tokyo.

“In PEZA, the Japanese has always been ichi-ban—being our top ecozone locator since 1995 and one of the Philippines’ top trading and investment partners. Japanese firms have been making significant contributions to our electronics, automotive, and industrial sectors through the years and we are eager to see how this mission will further strengthen our collaboration and, in our quest, to entice more Japanese companies to the country,” Panga said.

PEZA Deputy Director General for Policy and Planning Anidelle Joy Alguso showcased the country’s business-friendly environment, competitive incentives, and thriving economic zones as prime destinations for Japanese investors.

Part of the inbound mission is a visit to the Cavite Economic Zone and Japanese locator companies to see first-hand experience of existing Japanese firms in PEZA zones.

There are more than 800 PEZA-registered Japanese firms with total investments of PHP589 billion, generating 300,000 direct employment. (PNA)