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The Philippine Economic Zone Authority approved 147% more investments from January to November
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Approved investments for the period reached P140.9 billion
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For November alone, approved investments hit P9.1 billion
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President Ferdinand Marcos, Jr. cited PEZA’s role in the promotion and development of ecozones
The Philippine Economic Zone Authority (PEZA) reported a 147% increase in approved investments to P140.9 billion from January to November from P57.1 billion year-on-year.
The latest figure represents 92% of PEZA’s targeted investment approvals for the year. The agency remains optimistic about surpassing the P50-billion mark in additional investments by end 2023.
The 197 Board-approved projects generated P3.4 billion in exports and created 33,845 job opportunities, the agency said in a statement.
Among these projects, 181 were locator enterprises, reflecting an 8.84% growth from the previous year.
The remaining 16 projects were dedicated to ecozone development, contributing to a 77.62% increase in exports from $1.9 billion in the same period last year.
In a recent report for November, PEZA director general Tereso O. Panga said, “We received 28 new and existing projects, encompassing 15 for export enterprises, three for IT, five for facilities, two for logistics, and three for ecozone development.”
The ecozone developer-operators are located in Bacolod City, Kawit City in Cavite, and Iloilo City, aligning with the agency’s commitment to advancing countryside development.
For November alone, PEZA approved investments of P9.1 billion expected to bring in $397.6 million in exports, and create 5,324 direct jobs.
President Ferdinand R. Marcos Jr. lauded PEZA’s role in promoting and developing ecozones during the 28th Investors’ Night, hosted by the agency on November 22 at the World Trade Center, Pasay City.
“Your upscaling, sustaining a healthy investment climate, catering to investors with your dynamic and client-oriented practices as well as providing decent jobs for our fellow Filipinos are truly noteworthy,” he said in congratulatory remarks.
Marcos said the agency has the potential to make the country a “top destination” for both new and established businesses, fostering a conducive environment for investments.
