The Philippine Economic Zone Authority (PEZA) registered a 337.58-percent increase in investment pledges, reaching P52.933 billion in the first two months of the year from P12.097 billion in the same period of 2024.
PEZA approved 39 new and expansion projects for January to February this year, a 39.29 percent increase from 28 in the same period last year.
Jobs that could arise from these newly approved PEZA projects are expected to reach 11,063 direct hires, or a sharp increase of 209.02 percent from the year-earlier level.
The latest figures exceeded the full-year employment generated by 3,580 projects approved last year.
“This remarkable upswing reflects our continuous efforts through various foreign investment missions, with more initiatives from diverse industries planned for the rest of the year,” Tereso Panga, PEZA director-general, said in a statement late Monday.
PEZA in a report during its board meeting on February 20, said it approved 26 new and expansion projects worth P22.777 billion in investments that could generate $241.787 million in annual exports, and create 7,793 direct jobs.
PEZA said these projects include nine export manufacturing, eight information technology-business process management; three domestic market projects, two facilities development initiatives and four ecozone developments.
These projects are distributed across Metro Manila, Calabarzon, Central Luzon, Central and Western Visayas, Ilocos Region, and Davao Region.
The report said two major ventures are set to generate P15.989 billion combined investments in its upcoming projects in Tarlac and Batangas.
“These big-ticket projects will further boost investments in the country,” Panga said. One of the proponents is a South Korean project worth P10.450 billion, but Panga did not elaborate.
Panga said with the Philippines-South Korea free trade agreement now in effect, PEZA is collaborating with the Bases Conversion and Development Authority for the creation of this multi-faceted ecozone that will accommodate multiple sectors, including manufacturing, agro-industrial, tourism, and information technology, further enhancing economic opportunities and sectoral development.
“This development paves the way for more South Korean companies to establish operations,” Panga said.
PEZA and BCDA officials declined to disclose details of the South Korean mixed-use ecozone development.
In January, PEZA also approved a P28-billion investment in a beverage production and distribution facility in Tarlac City.
Panga in a text message yesterday afternoon said the proponent declined to be named.
