The Philippine Economic Zone Authority (PEZA) logged P80.58 billion investments in the first half of 2023, an increase of 258 percent from P22.5 billion in the same period in 2022, the agency said in a report.
Tereso Panga, director-general of PEZA, said the agency is on track to achieve its investment target for 2023 and is optimistic it will sustain the positive growth trajectory in the second half of the year.
PEZA targets a 10-percent increase in investment approvals from P140.7 billion in 2022.
In the first half, PEZA board approved 102 ecozone developer-locator projects.
Once operational, these will generate $26 billion exports and will employ 1.8 million.
The report said 43 of these projects are export enterprise; 34 are in information technology; 10 are ecozone facilities and 10 are ecozone development.
In June alone, PEZA green lighted 20 projects valued at P32.56 billion, an increase of 814 percent from P3.56 billion in the same month in 2022.
Once operational, these projects will generate exports of $481.88 million annually and will provide jobs for 3,475 individuals.
As of May, operational exports of PEZA locators amounted to $25.93 billion. These enterprises employed 1.8 million.
Panga said PEZA is ramping up its investment promotion and facilitation initiatives to bring in much-needed foreign direct investments. It is also conducting follow-through work on the outbound missions of the President.
Panga said in June alone, PEZA welcomed French, Czech, and Dongguan delegations and facilitated the learning visit and study tour of delegations from Uganda and Papua New Guinea.
PEZA likewise received delegations from China, Taiwan, and Japan in the first semester of the year.
Panga expressed confidence the inclusion of the ecozone development program in the country’s medium-term plan 2023- 2028 will help develop more ecozones in rural and new growth areas which will in turn introduce new frontiers catering to emerging and niche industries. Irma Isip
