The Philippine Economic Zone Authority approved projects worth P111.2 billion from January to early September
The latest figure is a 181% jump over P39.63 billion year-on-year
It is also 72% of PEZA’s P154.77 billion target investments for 2023
The investment pledges cover 144 projects, slightly less than the 148 projects in the same period in 2022
During its Sept. 7 meeting alone PEZA Board approved 27 projects worth P14 billion
The Philippine Economic Zone Authority approved investment pledges worth P111.2 billion from January to early September.
PEZA director general Tereso Panga in a media briefing on September 8 said the latest figure is a 181% jump from P39.63 billion year-on-year.
It is also 72% of PEZA’s P154.77 billion target investments for 2023.
During its Sept. 7 meeting alone, the PEZA Board approved 27 projects worth P14 billion, 11 of which are export enterprises that will be located in Batangas, Cavite, Laguna, Davao del Norte, and Cebu.
The PEZA Board also approved five Information Technology (IT) enterprise projects to be located in Makati, Cebu, Laguna, and Pasay; and five facilities enterprises in Batangas and Laguna.
Occidental Mindoro and Cavite will each host an ecozone project; Batangas and Laguna, a domestic enterprise project each; and Batangas and Cavite, an enterprise project each.
“So, we are on track on not just realizing our target for the year, which is [a] 10 percent increase in investments. These are all aligned with the targets of other key industries such as electronics, IBPAP (IT and Business Process Association of the Philippines), where we expect also the Philippines to achieve a 6 to 7 percent growth rate, which is one of the best-performing economies in the region,” Panga said.
PEZA currently operates a total of 422 ecozones across the country, the biggest of which are in Metro Manila, Calabarzon (Cavite, Laguna, Batangas, Rizal, Quezon), Central Visayas, Central Luzon, and Western Visayas.
These ecozones are host to 4,372 locator companies.
Panga also said for the first year of President Ferdinand R. Marcos, Jr.’s administration (July 2022-June 2023), PEZA has by far generated investments of P198.796 billion worth of investments from 206 projects, actual direct jobs of 1,805,770 (cumulative), and actual direct exports of US$58.494 billion.
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