PHILGUARANTEE, PEZA sign agreement to drive investments and trade development

Strengthening financial support network in the regions, the Philippine Guarantee Corporation (PHILGUARANTEE) and the Philippine Economic Zone Authority (PEZA) signed a Memorandum of Cooperation and Understanding (MCU) on Monday, Sept. 2, 2024, at the PEZA Headquarters in Pasay City, that aims to support government efforts in empowering investors to local businesses.

The MCU was signed by PHILGUARANTEE President and CEO Alberto Pascual and PEZA Director General Tereso Panga, along with PHILGUARANTEE Senior Vice President for Priority Sectors Guarantee Group Celso Gutierrez and PEZA Deputy Director General for Finance and Administration Maria Veronica Magsino, who served as witnesses to the event.

In his remarks, PEZA Director General Panga expressed gratitude and emphasized the importance of the strategic partnership, “We recognize that investments do not thrive in isolation. Financial support, risk management, and access to capital are critical areas where PHILGUARANTEE excels. By offering financial guarantees, PHILGUARANTEE boosts lender confidence and facilitates capital flow. This creates a strong framework that drives sustainable growth, complementing PEZA’s business ecosystem within the ecozones.”

This partnership fosters a dynamic business environment where industries can thrive and contribute to national progress. It seeks to unlock new investment potentials, improve access to financing, and enhance risk management, ultimately making the Philippines a more attractive destination for both local and international investors.

As the two institutions embarked on this collaboration, they expressed optimism for increased investment, trade, and inclusive growth. The alignment of PEZA and PHILGUARANTEE’s efforts signals a renewed commitment to promoting ecozone development and advancing the country’s economic landscape toward a more prosperous and sustainable future.

From: Strategy Management and Communications Department