PEZA embarks on new and expansion projects for the start of second quarter
The Philippine Economic Zone (PEZA) Board held its meeting at the First Philippine Industrial Park (FPIP) on Friday.
A total of 73 new and expansion projects, generating P29.955 billion investments, was approved to date for the year 2024. These projects are expected to generate $ 1,094.65 million in exports and create 14,812 direct employment for Filipino workforce.
PEZA Director General Tereso Panga remains positive that the progression of these projects strengthens the agency’s efforts to put the Philippines in the spotlight of economic growth in the Asia-Pacific region.
As of April, the approved projects will delve into export manufacturing, IT-BPM, facilities, logistics, domestic market, and ecozone development, which are mostly located mostly Calabarzon, Metro Manila, Bicol, and Central Luzon, while some in the VisMin islands ? Cebu, Davao, and Cagayan de Oro.
For the start of the second quarter of 2024, 23 Board-approved new and expansion projects are expected to lead to P15.003 billion investments.
These projects are also anticipated to generate $69.778 million worth of exports and provide 3,254 Filipino jobs. These 23 projects encompass various types of industries, namely : eight export manufacturing, six IT-BPM, two facilities, one logistics, and six ecozone development.
The approved new and expansion projects are located mostly in the National Capital Region, followed by Calabarzon and Central Luzon, while others are located in the Bicol, Central Visayas, and Davao regions, respectively.
The PEZA Board, along with its management officials and staff, toured the FPIP vicinity, exploring the industrial park and the innovative sites of the different PEZA-registered locator companies, which have significantly contributed to the increased trade.
FPIP, being strategically located between Mt. Makiling and Metropolitan Manila, houses a variety of locator companies from leading export manufacturing and IT-BPM industries, such as Brother Industries (Philippines) Inc., Canon Marketing Philippines, Honda Philippines Inc., Sunpower Philippines Manufacturing Ltd., Shimano (Philippines) Inc., among others, with more ongoing constructions of new and expansion projects.
The short cruise was followed by the locator company-centered facility tours of Collins Aerospace Philippines and the Philippine Manufacturing Co. of Murata (Murata Philippines).
The Philippine Manufacturing Co. of Murata (Murata Philippines), a leading Japanese manufacturer of solar panels, wind turbines, and renewable energy (geothermal) provider, brought the PEZA and FPIP officials inside its innovative and inclusive facilities, which features more than 6,000 solar panels at its rooftop producing a 3 megawatts of power, intricate and distinct manufacturing processes for their ceramic chips, and fully-automated process registration. PEZA Corporate Communications Division
