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The Philippine Economic Zone Authority approved 71.54% more investments in the first eight months of the year
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The January to August investments reached P105.834 billion from P61.69 billion recorded in the same period last year
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The latest consolidated investments come from 179 approved projects, up 9.82% from 163 projects year-on-year
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For August alone, the PEZA Board greenlit 29 new and expansion projects worth P14.872 billion seen to create 4,764 direct jobs for Filipinos
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Four big-ticket projects were approved in August, bringing in a combined total investment of P11.243 billion
The Philippine Economic Zone Authority (PEZA) approved 71.54% more investments in the first eight months of the year.
The January to August investments reached P105.834 billion from P61.69 billion recorded in the same period last year.
The latest consolidated investments come from 179 approved projects, up 9.82% from the 163 projects approved in the same period last year, PEZA said in a statement.
These projects are expected to generate 40,638 direct jobs, representing a 27.68% increase compared to last year.
Projected exports are also significantly higher at $3.38 billion, up 71.25% from last year’s $1.97 billion.
Year-to-date, Cayman Islands led the investments by nationality, followed by South Korean, Chinese, American, and Dutch investors.
For August alone, the PEZA Board greenlit 29 new and expansion projects worth P14.872 billion seen to create 4,764 direct jobs for Filipinos.
Compared to August last year, this year’s investment approvals dipped 8% with the PEZA Board holding more meetings (two) in August 2024.
PEZA noted this occurrence is common as the investment promotion agency is mandated to convene as necessary to ensure projects move forward without delay.”
“What we’re seeing now is still a healthy, robust pipeline of projects, and with our expanded regional engagements, we expect strong growth momentum in the months ahead,” PEZA director general Tereso Panga said.
The approved projects in August span a range of industries, including 16 in export manufacturing, five in information technology-business process management, four in domestic market-oriented activities, three economic zone development ventures, and one in facilities. These will be located in NCR and Regions III, IV-A, VII, XI, and XII.
Among these ventures, four big-ticket projects were approved, bringing in a combined total investment of P11.243 billion.
Two new manufacturing ecozones are expected to be developed in Tarlac, further strengthening its position as an emerging hub in the province and a key player in the Luzon Economic Corridor.
A 16-storey facility in Davao City and a steel manufacturing plant with an expanded product line in Sarangani Province are expected to further spur countryside development.
“With the volume of interest we are receiving, and the quality of projects in our pipeline, we are confident that the coming months will not just achieve our target for the year but also bring even greater gains for our economy and our people,” Panga said.
PEZA earlier said it is on track to achieve its 9% to 10% investment growth target this year.
