The Philippine Economic Zone Authority (PEZA) has achieved a record-breaking P201.55 billion investment approvals as of November, surpassing the P200-billion target for the year, according to the Department of Trade and Industry (DTI).
This represents a 43.06 percent increase from the P140.88 billion approved in January to November last year and a 14.7 percent rise from the P175.71 billion registered for the whole of 2023.
During the 9-month period, PEZA approved 239 new and expansion projects, generating $3.9 billion in potential export revenues and providing direct jobs to more than 70,000 Filipinos. The DTI said these numbers reflect substantial year-on-year increases: 21.31 percent in new and expansion projects; 14.07 percent in exports and; 110.83 percent in employment opportunities.
In November alone, PEZA approved 41 new and expansion projects with a combined investment of P77.79 billion. These projects are expected to generate $831.019 million in exports and 30,623 direct jobs.
During the second board meeting in November, the PEZA Board approved 17 new and expansion projects which are expected to bring in a total of P15.45 billion in investments, generate $467.52 million in exports, and create 9,957 direct jobs.
Of the 17 projects, 10 are in export manufacturing, four in the information technology-business process management sector, two in facilities development and one in ecozone development.
Located outside Metro Manila, the projects are distributed across Calabarzon, Region 3, and Central Visayas: four each in Batangas, Laguna and Cebu, two in Cavite, and one each in Rizal, Pampanga, and Negros Oriental.
