Committed investments approved by the Philippine Economic Zone Authority (PEZA) in the January-April this year reached a record PhP 63.523 billion, a 112.06 percent increase than the PhP 29.955 billion approved same time last year. There were a total of 86 new and expansion projects approved, which are expected to create more than 20,000 jobs.
South Koreans led the top investors followed by the American, Chinese, Japanese, Hong Kong, and Singapore.
For the month of April, the PEZA Board, under the chairmanship of DTI Secretary Ma. Cristina A. Roque, approved 20 new and expansion projects worth PhP 4.575 billion. These projects are seen to bring in more than 9,000 jobs and generate above US$ 300 million worth of exports.
The 20 projects are into export manufacturing (7), IT-BPM (5), facilities (4), utilities (2), logistics (1) and domestic market (1) to be located in NCR, CAR, Region III, Region IV-A, and Region VII.
PEZA Director General Tereso O. Panga said the strong showing of South Korea indicates that ecozones are reaping from the country’s newly signed FTA with South Korea and the emerging China+2 strategy in the region.
PEZA’s continued upward trajectory reflects our strong commitment towards investment promotion and facilitation. Despite the geopolitical challenges, this momentum reflects renewed investor confidence in the Philippines as a resilient and globally competitive destination,” said Panga.
