Investments registered with the Philippine Economic Zone Authority (PEZA) declined 6 percent in the first 10 months of the year but the agency remains confident it will be able to hit the P200-billion target for the year.
As of October, PEZA recorded P123.76 billion in investments, down from P131.76 billion in the 10-month period in 2023.
The agency registered 198 projects, higher than the 169 listed in 2023. Exports of these projects will amount to $3 billion a year, same as those in 2023.
Employment to be generated by the projects registered this year will reach 40,733, which is 43 percent higher than the 28,521 jobs to be created by investments a year ago.
But in October alone, investments plunged 62 percent to P7.9 billion from P20.55 billion in the same month in 2023.
Exports to be generated by the 19 projects registered for the month will amount to $561.51 million. These will generate 4,862 direct jobs.
Of the 19 projects, 8 are in manufacturing, another 8 are in information technology, two in ecozone development, and one in ecozone logistics services. The projects will be located in Pampanga, Laguna, Cavite, Iloilo, Taguig, Cebu, Muntinlupa, Makati, Batangas, Quezon City, and Tarlac.
The projects involve fabricated metal products, computer programming, commercial printing, electronic products, semiconductor devices, warehousing, transportation support activities, office support, and rubber and plastic products.
The two ecozone development projects include the expansion of Light Industry & Science Park IV – Special Economic Zone (LISP IV-SEZ) and the establishment of Zen Industrial Pharma Zone in San Miguel, Tarlac City.
The LISP IV-SEZ expansion covers 30.8065 hectares in San Fernando and Luta Sur, Malvar, Batangas, with a project cost of P1.75 billion. Land development began in January and completion is by December 2026.
Zen Industrial Pharma Ecozone has a project cost of P 81.633 million. Development will start in January and will finish by November 2026.
PEZA said the zone will host the drug export manufacturing facility of Lloyd Laboratories in partnership with an American pharmaceutical company.
No details were provided but PEZA said this project aims to elevate the Philippines’ pharmaceutical sector and bolster socio-economic development, positioning the country as a hub for pharmaceutical manufacturing and research.
“We are more than halfway to our target, thanks to the continued trust of investors in the Philippines. Through upcoming investment missions, we aim to exceed our target and further boost the country’s export performance and competitiveness,” said Tereso Panga, PEZA director-general.
