PEZA expects “big-ticket” projects in Q1
The Philippine Economic Zone Authority (PEZA) disclosed that several “big-ticket” projects are expected to seek registration in the country for the first quarter of 2022.
These include expansion projects of Yeonho Electronics, the P16-billion expansion of Amkor Technology Philippines, and the entry of the MMG Group in manufacturing.
PEZA, together with FCIE Investors Association and the Philippine Ecozone Business Club, said that they have already met these investors before the holidays started.
The agency also held a meeting with the Taipei Economic and Cultural Office in the Philippines and the Taiwanese Business Association in a bid to attract new investors in the country.
A PEZA official shared that “Yeonho is [looking at] expansion in production capacity. YFC is a big Taiwanese investor recently approved in Hermosa Ecozone Industrial Park.”
Meanwhile, logistics company MMG Group is planning to venture into PPE manufacturing, drug tolling, and IT center development.
A Chinese investor is also keen on developing its economic zone in the Philippines.
In 2021, PEZA approved 215 projects in the first 10 months of the year with combined investments of P62.722 billion, down from 2020’s P72.644 billion figures.
Despite the decline, PEZA Director-General Charito Plaza said that exports were sustained — particularly in electronics.
