PEZA expects slower investment growth this year
Uncertainties and threats continue to affect investor sentiment and the Philippine Economic Zone Authority (PEZA) said investments registered with the agency are expected to grow at a slower pace this year. PEZA director general Charito Plaza said uncertainties on the proposed tax reform program to rationalize incentives given to investors will affect the growth in investments this year adversely, compared with last year’s 8.89%. Investments registered with PEZA reached P237.57 billion last year, up from the P218.18 billion in 2016. As of the first semester, investments for projects approved by PEZA amounted to P53.07 billion, down 56% from the P120.22 billion in the same period last year. Plaza said PEZA would continue to lobby to enhance incentives for investors to encourage them to set up operations in the country. Although investors are attracted by the country’s young English-speaking workforce, Plaza said incentives still count as another important factor.
