PEZA approves PHP30.156B in investments, up 1,263% from last year

The Philippine Economic Zone Authority (PEZA) approved PHP30.156 billion in investments during its first board meeting on January 23, marking a significant 1,263 percent increase from the PHP2.212 billion approved last year.

PEZA's Board, led by Chair and Trade Secretary Ma. Cristina Roque, greenlit 12 new and expansion projects across various sectors including export manufacturing, IT-BPM, and domestic market ventures.

These projects are expected to generate USD32.177 million in exports and create 3,270 direct jobs, with major investments coming from the United Kingdom and other key international markets.

PEZA Director General Tereso Panga highlighted that this growth underscores their commitment to meet a PHP235-250 billion investment target for 10% increase over last year's total of PHP214.176 billion, signaling positive economic prospects.

Two of the approved projects account for PHP29.014 billion in investments, with one domestic market enterprise investing nearly PHP28 billion in Tarlac City and another focusing on energy storage systems in Mactan Economic Zone.