The Philippine Economic Zone Authority (PEZA) approved P12 billion investments in the first two months of 2024, an increase of 18.66 percent from P10.19 billion in the same period in 2023.
In a statement, PEZA said its board on February 16 approved 28 new and expansion projects which are expected to generate $661.095 million in exports annually and will create 3,580 direct employment once operational.
The PEZA Board approved a total of 16 projects, nine of which are ecozone enterprises, three are information technology enterprises, one domestic market, two ecozone logistics services, and one developer.
These projects are anticipated to yield an investment of P9.88 billion, generating $591.476 million in exports and creating 2,243 direct jobs, and located in the First Philippine Industrial Park II, Daiichi Industrial Park, Light Industry & Science Park III, Laguna Technopark, PHIVIDEC Industrial Estate – Economic Zone, Lima Technology Center, Mactan Economic Zone II, People Technology Complex, 1 Nito Tower in Cebu City, Embarcadero De Legazpi in Legazpi City, Albay, Light Industry & Science Park IV and Hermosa Ecozone Industrial Park.
One of the new projects pre-qualified by the PEZA Board is engaged in the manufacture of solar wafer cells and will start its operations in July 2024.
“The significant upswing in our investment performance within two months underscores our commitment to achieving our target of P250 billion investments for this year,” said Tereso Panga, PEZA director-general. – Irma Isip
