PEZA approves 18.66% more investments for Jan-Feb

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  • The Philippine Economic Zone Authority approved a total of P12.096 billion in investments in the first two months of 2024
  • This is an 18.66% increase compared with the P10.194 billion approved investments during the same period last year
  • Of the total, P2.21 billion was approved in January and P9.88 billion in February
  • These include 28 new and expansion projects, expected to generate $661.095 million in exports and create 3,580 direct employment
  • For February alone, the PEZA Board approved 16 projects

The Philippine Economic Zone Authority (PEZA) Board approved P12.096 billion in investments in the first two months of 2024, up 18.66% compared with the P10.194 billion during the same period last year.

“The significant upswing in our investment performance within two months underscores our commitment to achieving our target of P250 billion investments for this year,” PEZA director general Tereso Panga said in a statement.

Of the total, P2.21 billion was approved in January and P9.884 billion during the PEZA Board meeting on February 16.

These include 28 new and expansion projects, expected to generate $661.095 million in exports and create 3,580 direct employment.

For the month of February alone, the PEZA Board approved 16 projects, of which nine were ecozone enterprises, three IT enterprises, one domestic market, two ecozone logistics services, and one developer.

These projects are anticipated to generate $591.476 million in exports and create 2,243 direct jobs.

The investments will be located in the First Philippine Industrial Park II, Daiichi Industrial Park, Light Industry & Science Park III, Laguna Technopark, PHIVIDEC Industrial Estate – Economic Zone, Lima Technology Center, Mactan Economic Zone II, People Technology Complex, 1 Nito Tower in Cebu City, Embarcadero De Legazpi in Legazpi City, Albay, Light Industry & Science Park IV, and Hermosa Ecozone Industrial Park.

PEZA noted that one of the new projects pre-qualified by the PEZA Board is engaged in the manufacture of solar wafer cells and will start operations in July 2024.