Peza posts record P1.39-billion dividend payout
The Philippine Economic Zone Authority is keen on attracting more investors from South Korea(Photo from PEZA/Facebook)
MANILA, Philippines — The Philippine Economic Zone Authority (Peza) on Tuesday said it remitted P1.39 billion in dividends out of its 2024 earnings, marking its second year of contributing over a billion to government coffers.
According to Peza records, this year’s remittance of P1.39 billion reflected a 1.86-percent increase compared with P1.36 billion in the previous year.
“As we turn 30, we are focused on future-proofing Peza to ensure it remains a dynamic force for economic development and nation-building,” Peza Director General Tereso Panga said in a statement.
Peza’s consecutive billion-peso dividend payouts, previously unheard of in the agency’s 30-year history, mark its entry into what it touts as the elite “billionaires’ club” of government-owned and -controlled corporations.
The distinction is typically dominated by major revenue-generating financial institutions.
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Total contributions
From 2007 to 2021, the investment promotion agency said it had remitted a total of P25.06 billion in dividends to the national government.
To date, Peza oversees more than 400 economic zones across the country and employs over 600 personnel.
It also supports more than 4,000 locator companies within its economic zones, all while maintaining fiscal self-sufficiency.
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From January to April, Peza’s investment approvals reached P63.52 billion, reflecting a 112.06 percent increase from the previous year.
Peza is aiming to approve up to P250 billion in investments in 2025.
Investments registered under Peza-accredited economic zones enjoy a number of fiscal and non-fiscal incentives, including income tax holidays, special corporate income tax rates, or enhanced deductions, among others.
