Investments registered with the Philippine Economic Zone Authority (PEZA) rose 54 percent in the first quarter of the year to P25.382 billion from P16 billion in the same period in 2020.
Data provided by PEZA showed the agency approved 57 new projects which would generate 5,601 employment once fully operational.
Of the total projects, 43 will be located in Luzon while 10 will be located in Visayas, and four in Mindanao.
For the 57 projects of registered business enterprises, 22 are export projects, 15 are information technology (IT) projects, 7 are facilities, three are logistics and one each in utilities and tourism ventures. Eight of those registered are in ecozone development.
Charito Plaza, PEZA director-general, said despite the modified enhanced community quarantine (MECQ) period from April 12 to 16, 2021, ecozones have reported 90 percent or 2,701 companies were operating nationwide with 1.93 million employees both working in skeleton force and work-from-home arrangements. Per sector, the manufacturing sector was 94 percent operational while the IT-BPO industry is 84% operational.
With this and the first quarter exports performance of zone locators, Plaza is confident of PEZA’s prospects for the rest of the year.
PEZA earlier reported zone exports roes 16 percent to $12.91 billion last year to $14.93 billion exports covering the same period, while employment in ecozones also increased to 2.94 -percent which is equivalent to 1.58 million workers compared to 1.53 million workers a year ago.
