The Philippine Economic Zone Authority (PEZA) remitted PHP1.44 billion to the national government for fiscal year 2025, the third consecutive year of its billion-level remittance.
This is in line with Republic Act 7656, or the Dividend Law, which mandates government-owned and controlled corporations (GOCCs) to remit at least 50 percent of their annual earnings as cash, stocks or property dividends to the national government.
In a news release issued Wednesday night, PEZA said the dividend was formally turned over during the annual GOCC Day held in Malacañang earlier in the day attended by President Ferdinand R. Marcos Jr. among others, which saw a record-high remittance of PHP147.15 billion from 50 agencies.
PEZA Director General Tereso Panga, as quoted in the news release, traced the sustained strength of their remittance performance to “the confidence of our investors, the resilience of our ecozones, and the dedication of every member of the PEZA family to deliver results that directly benefit the Filipino people despite the various headwinds we are facing.”
“Our three-peat in dividend remittances demonstrates that investment promotion and sound public financial management go hand-in-hand. As we continue to attract high-value investments, we are likewise ensuring that the gains from economic growth are shared with the National Government and ultimately with the Filipino people,” he said.
As one of the country’s premier investment promotion agencies, PEZA continues to facilitate investments that generate employment, expand exports, encourage technology transfer and stimulate inclusive regional development.
“PEZA’s sustained financial performance reflects not only our commitment to sound governance and fiscal responsibility but also the strength of our investment promotion efforts. As a self-sustaining and resource-generating agency, we will continue to be a reliable partner of the National Government by attracting high-quality investments, generating employment and export opportunities, and advancing the Marcos administration’s vision of a more competitive, innovative, and inclusive Philippine economy,” Panga added.
BCDA remits PHP2.6 billion
During the same event, the Bases Conversion and Development Authority (BCDA) also remitted PHP2.6 billion, also among the highest remittances from 15 GOCCs called “Billionaires’ Club.”
BCDA President and Chief Executive Officer Joshua Bingcang, in a news release said inclusion in the Billionaires’ Club “is a testament to BCDA’s unwavering commitment to responsible governance and fiscal discipline.”
“Every dividend we remit represents the value we create through strategic investments and sustainable development. As we continue transforming former military lands into centers of economic growth, we remain focused on delivering greater returns to the government, supporting national development priorities, and creating more opportunities for Filipinos,” he said.
Similarly, BCDA subsidiaries also remitted dividends, namely Clark Development Corporation, PHP2.597 billion; Clark International Airport Corporation, PHP585.71 million; Poro Point Management Corporation, PHP16.67 million; and John Hay Management Corporation, PHP11.51 million.
Aside from the dividend, BCDA said it also provided the Bureau of the Treasury (BTr) PHP3.09 billion this year for the modernization program of the Armed Forces of the Philippines. (PNA)
