Investments registered with the Philippine Economic Zone Authority (PEZA) as of mid October reached P131.76 billion, a 232-percent increase from P39.61 billion recorded in the same period last year.
Tereso Panga, PEZA director-general, said the amount represents more than 85 percent of the P154 billion target for the year which is a 10 percent growth from 2022.
Panga said PEZA registered 169 projects, higher than last year’s 148. Once operational, these projects will generate 3 billion exports annually and would employ 28,521.
In October alone, PEZA approved P20.55 billion investments for 25 projects. These would generate annual exports of $643 million and jobs of 5,500.
However, exports are behind.
As of August, shipments of locators in PEZA-managed ecozones hit $42 billion, down 2.64 percent from $43.17 billion in the same period in 2022.
“There is a slight drop in our actual direct exports and jobs as of August. But we are hopeful that both indicators will recover and achieve a positive growth during the last quarter of the year.
Cumulative employment in ecozones as of August stood at 1.78 million, down from 1.8 million in the same period in 2022.
To date, PEZA has approved 78 ecozone export projects; 36 ecozone information technology projects; 20 ecozone facilities; 13 ecozone development, 15 ecozone logistics; five ecozone domestics market-oriented projects and two ecozone utilities.
PEZA targets to grow exports by 9 percent this year, based on the growth targets of the Semiconductor and Electronics Industries of the Philippines Inc, 5 percent and of the IT Business Process Association of the Philippines, 10 percent.
Panga said PEZA has not adjusted the exports target given the strong performance of the IT sector and the locators’ start of commercial operations for new and expansion projects.
He said this will translate as well to increase in ecozone direct jobs.
