The Philippine Economic Zone Authority (PEZA), formerly known as the Foreign Trade Zone Authority (FTZA) and Export Processing Zone Authority (EPZA), is a Philippine government agency attached to the Department of Trade and Industry.
It was created to help promote investments in the export-oriented manufacturing industry into the country by assisting investors in registering and facilitating their business operations and providing tax incentives.[1] PEZA also assists investors who locate in service facilities inside special economic zones in the country (areas are called PEZA Special Economic Zones) which are usually business process outsourcing and knowledge process outsourcing firms. Other activities also eligible for PEZA registration and incentives include establishment and operation within special economic zones for tourism, medical tourism, logistics and warehousing services, economic zone development and operation and facilities providers.[2]
History and organization
On June 21, 1969, Congressman Pablo Roman Sr. authored Republic Act 5490 designating Mariveles, Bataan as the first free trade zone in the Philippines. It also created the Foreign Trade Zone Authority (FTZA).
In early 1972, three congressmen — Roman, Roces, and Sarmiento - sponsored the bill to convert the free trade zone authority into government corporation. This would grant the power of a corporation combined with the coercive strength of the Philippine Government to move the project ahead, especially regarding the relocation of residents.