The Board of Investments (BoI) and the Philippine Economic Zone Authority (Peza) set two varying investment goals this 2021, as the agencies pinned their hopes of a capital surge on the passage of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act.
Trade Undersecretary and BOI Managing Head Ceferino S. Rodolfo said he was instructed by Trade Secretary Ramon Lopez to target P1.2 trillion in investments this year. If the agency completes its target, it will beat its all-time high of P1.14 trillion recorded in 2019.
On the other hand, PEZA is seeking to reach its goal of going back to the P100-billion mark.
PEZA records reveal that investments made in economic zones last year plunged 19.15 per cent to P95.03 billion, from P117.54 billion in 2019.