PEZA Investment Approvals Surge to PHP12 Billion in Early 2024

MANILA, Philippines – The Philippine Economic Zone Authority (PEZA) has experienced a significant increase in investment approvals in the first two months of 2024, marking an 18.66 percent rise to PHP12.10 billion, up from PHP10.19 billion in the corresponding period of 2023.

According to Philippines News Agency, the approved investments stem from 28 new and expansion projects, which are projected to generate USD661.1 million in export revenues and create an additional 3,850 jobs. PEZA Director General Tereso Panga emphasized the growth as a testament to the agency’s commitment towards reaching its investment target of PHP250 billion for the year.

In February alone, the PEZA Board greenlit 16 projects, encompassing nine ecozone enterprises, three information technology enterprises, one domestic market enterprise, two ecozone logistics services, and one ecozone developer, with a combined investment value of PHP9.88 billion. These projects are expected to contribute an additional USD591.48 million in exports and create 2,243 direct jobs once they commence operations.