Investors await appointment of new Peza head

The Philippine Economic Zone Authority (Peza) still does not have a new head after the resignation of Lilia de Lima, and foreign investors are cautious as a result. According to Peza promotions and public relations manager Elmer San Juan, foreign investors deferred expansion plans in economic zones pending the appointment of the new Peza director-general. Direct employment by all Peza-accredited economic zones reached 1.255 million as of end-April 2016, with information technology and business process outsourcing accounting for almost half of the manpower. Peza is still waiting for President Rodrigo Duterte to announce the new chief ,and observers said Peza could post flat growth for this year if the current situation persists until the end of the year.