PEZA expects more investments in second semester

PEZA expects more investments in second semester

The Philippine Economic Zone Authority (PEZA) is expressing hope that it will attract more investments in the coming months, despite a 27 per cent drop in the value of newly-approved projects in the first seven months to P52 billion from P71.21 billion a year ago.

PEZA Director General Charito Plaza said that while “it is true that the COVID-19 pandemic affected our economy badly,” the information technology-business process outsourcing (IT-BPO) and manufacturing industries continued to have robust contributions to new investments.

The IT-BPO sector registered investments of P11.40 billion, up by 37 percent from P8.32 billion a year earlier. Approved investments in the seven-month period came from 164 new and expansion projects.

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