The Philippine Economic Zone Authority (PEZA) is confident it will achieve its target grow its investments by 6 to 7 percent in 2022 after hitting P57 billion as of November, according to Aleem Sidiqui Guiapal, PEZA deputy director-general.
This, however, represents a decline 11.5 percent compared with P64 billion in the same period in 2021.
Guiapal told reporters in a briefing on Monday the agency expects to approve more big-ticket projects in its board meeting on December 15.
PEZA registered P69 billion projects in 2021.
Guiapal said 181 projects were registered with PEZA for the year.
Total employment as of October stood at 1.85 million. Current locators have exported $54 billion worth of products for the year ending October.
Guiapal bared PEZA’s strategy to attract investments called 3 Es: The first E is engaging new markets as the agency pursues leads from South Korea, Taiwan, Middle East and Japan.
The second is expansion of existing to capitalize on the investment climate in the country.
Guiapal said the third E is emerging markets as PEZA engages Gulf Cooperation Council countries for for halal hubs and Islamic fund.
Big-ticket projects for January to November include those of Shin-etsu Magnetics Corp. Inc; Cebu Mitsumi Inc.; TDK Philippines Corp., Tamiya (Philippines) Inc., and P.IMES Corp. (Philippine International Manufacturing and Engineering Services Corp). – Irma Isip
