PEZA investment approvals surge in the third quarter
The Philippine Economic Zone Authority (PEZA) reported a surge in investment approvals for the third quarter, nearly doubling the total recorded from January to August of this year.
From the recent board meeting, PEZA Director General Tereso Panga highlighted the pivotal role that new projects and expansion efforts are playing in fueling economic growth.
From January to September, PEZA had greenlighted 179 new and expansion projects.
These are projected to generate $2.513 billion in exports and boost employment by 35,871 direct Filipino jobs reflecting a robust performance compared to the same period in 2023. These approvals have accumulated a total of P115.887 billion worth of investments, strengthening the outlook for reaching the P 200 billion investment target of PEZA for the year.
Year-on-year shows a vast improvement where there was a 24.31 percent increase in the number of new and expansion projects, 4.21 percent rise in investments, exports grew by 5.47 percent, and, most notably, employment opportunities experienced a substantial 55.82 percent increase for 2024.
On September 23, PEZA approved 16 new and expansion projects expected to bring in approximately P 54.191 billion in investments, generating $ 541.04 million in exports, and provide 4,044 new jobs for Filipinos. Thus far, these projects stand out as the largest investment approvals of the year.
From the 16 approved new and expansion projects, there is a 285 percent increase in investments amounting to P54,191.509 billion compared to P 14,043.894 billion last September 2023 with significant boost in exports of 20.98 percent in the same period.
A wide range of industries constitutes the 16 newly approved and expansion projects for September .
These projects include eight focused on export manufacturing, five in the IT-BPM sector, one in facilities development, one dedicated to ecozone logistics services, and another one in ecozone development.
Similar to the previous month, Calabarzon remains the leading region for these initiatives, hosting 11 projects across Laguna and Batangas.
Following Calabarzon was Region VII with two projects in Cebu, while NCR added two more in Makati and Taguig, and Central Luzon with one project in Pampanga.
September's board meeting saw the approval of a P50 billion project, PEZA’s first big-ticket investment under the Marcos Jr. administration, which may be eligible for an incentive package for highly desirable projects under the CREATE Law.
In addition, a significant new ecozone development project was approved, led by a fully Filipino-owned developer with a total investment of P988.287 million.
This project is strategically designed to enhance the operations and growth of locator companies in Lima, Batangas. PEZA Corporate Communications Division
