PEZA investments increase by 83%

MANILA, PHILIPPINES — An 83 per cent year-on-year (yoy) increase in approved investments has been recorded by the Philippine Economic Zone Authority (PEZA) with the approval of Php6.4 billion investments in January. 

“The PEZA Board has approved a total of 19 new and expansion projects of ecozone locators and developer/operators expected to bring in Php6.393 Billion investments. This is 83.69% higher as compared to the Php3.48 Billion investments approved for the same period last year,” reported PEZA Officer-in-Charge Tereso Panga. 

Approved investments are in the export manufacturing, facilities enterprise, IT enterprise, and domestic market industries, PEZA said in a statement. 

Meanwhile, new ecozone locations in Makati City, Pasay City, CALABARZON, Cebu City, and South Cotabato are expected to generate Php4.1-billion worth of investments. 

“With the positive start of the year, we are bullish with our outlook this year, targeting a 10% investment growth based on the initial locator sector targets,” said Panga.

PEZA is targeting a 10% increase in the Php140.7 billion investments recorded in January to December 2022.