Investment pledges approved by the Philippine Economic Zone Authority (PEZA) reached P72.645 billion as of October this year. This is 26.86 per cent lower than the P99.322 billion approvals in the same period last year.
PEZA Director General Charito B. Plaza reported that there were only 248 projects that came in as of October – 45.37 per cent lower than the 454 projects that registered in the first ten months in 2019. This would result in negative 2.5 growth in PEZA’s employment as of September this over last year.
In terms of exports, Plaza reported a modest growth of 0.63 per cent to $40.796 billion as of September this year from $40.541 billion in the same period last year. PEZA accounts for 80 percent of total services exports, particularly IT-business process management, and 60 per cent of merchandise exports, mostly electronics.