Investments registered with the Philippine Economic Zone Authority (PEZA) have reached P186 billion as of mid-November, surpassing 2023’s full year record of P175.71 billion.
This puts PEZA on track to achieve its target of P200 billion investments for the year. It also represents a 32-percent increase from P140.88 billion in January to November 2023.
PEZA as of November 13 approved 222 new and expansion projects which are projected to generate more than $3 billion in exports and create 60,000 direct jobs.
In the November 13 meeting alone, PEZA approved P 62.34 billion investments in 24 new and expansion projects which are expected to generate $300 million in exports and create more than 20,000 jobs.
Twelve of the projects are in export activities, six in information technology services, two in domestic market-oriented projects, and one each in facilities, logistics, utilities, and ecozone development in the National Capital Region, Calabarzon, and Regions III, V, VII, and X.
There were four big-ticket locator projects worth P60.248 billion approved; with one domestic market enterprise injecting more than P50 billion investments.
Some of the projects are from Elmer Francisco Motors Corp. which will engage in the manufacture and assembly of electric vehicles, parts, and components in Camarines Norte; a domestic market enterprise for the construction of a liquid fuel depot in Cebu; an export enterprise which will manufacture additional vehicle parts and components in Batangas and; a Filipino-owned developer which will invest P4 billion for an ecozone in Concepcion, Tarlac. “Surpassing the previous year’s investment acquisition performance is a clear sign of the confidence of both international and local investors in our economy and (the government’s) policies,” said Tereso Panga, PEZA director-general.
