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Philippine Economic Zone Authority-approved investments plunged 43.6% in the first half to P45.48 billion from P80.59 billion year-on-year
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PEZA registered 120 projects from January to June, 18% more than the 102 projects approved in the same period in 2023
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The additional projects are expected to generate $1.6 billion worth of exports
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57 of the newly registered projects are in manufacturing; 32 in IT-BPM; 13 ecozone development; nine facilities; six domestic enterprises; and three logistics activities
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Top five foreign sources of investment pledges are Cayman Islands, Japan, Malaysia, Hong Kong and Singapore
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In June alone, PEZA approved 25 new and expansion projects worth P8.654 billion
Philippine Economic Zone Authority (PEZA)-approved investments plunged 43.6% in the first half to P45.48 billion from P80.59 billion year-on-year.
In a press statement, PEZA said it registered 120 projects from January to June, 18% more than the 102 projects approved in the same period in 2023.
The additional projects are expected to generate export value worth $1.6 billion, according to PEZA.
“The approval of these projects signals robust confidence in the Philippines’ business environment and economic potential,” PEZA director general Tereso Panga said.
“Following the strategic investment generation and FDI collaboration plans of our government spearheaded by President Ferdinand R. Marcos Jr., we are positive in enhancing and strengthening our efforts even more to secure partnerships from a large number of investors in different industries for the continuous boost in the Philippines’ economic growth and progress,” he added.
In terms of top investments per industry, 57 of the newly registered projects are in manufacturing; 32 in information technology and business process management; 13 ecozone development; nine facilities; six domestic enterprises; and three logistics activities.
The top five foreign sources of the investment pledges are Cayman Islands with P8.86 billion; followed by Japan, P8.02 billion; Malaysia, P4.53 billion; Hong Kong, P1.62 billion; and Singapore, P1.27 billion.
In June alone, the PEZA Board approved 25 new and expansion projects worth P8.654 billion, reflecting a 13.64% increase from the 22 approved in the same month last year.
The approved 25 projects cover various industries, with 22 locator companies and three ecozone developers. These locators comprise export manufacturing activities with 11 eleven projects, followed by six in IT-BPM, three in domestic markets, one in facilities development, and one in logistics services.
Calabarzon (Cavite, Laguna, Batangas, Rizal and Quezon) remains the preferred destination for new locator projects, with 15 being located in Batangas, Cavite, and Laguna; three in the National Capital Region (Quezon City and Marikina); three in in Region III (Pampanga and Bulacan); one in Region V (Naga); two in Region VII (Cebu); and one in Region XII (General Santos).
