Nearly PHP7 Billion Worth Of Projects Approved By PEZA In August

The Philippine Economic Zone Authority (PEZA) Board of Directors approved nearly PHP7 billion worth of new and expansion projects in August, PEZA Director General Tereso Panga announced.

The PEZA-approved are expected to generate 2,300 direct jobs in areas such as Pampanga, Tarlac, General Santos City, Batangas, Cavite, Davao, Laguna, Cebu, and Metro Manila. I Photo: Damosa Land

The approved projects consist of 21 initiatives with a combined investment of PHP6.978 billion.

These include six projects in the manufacturing sector, six in information technology (IT) enterprises, four in ecozone development, and one each in agro-industrial, facilities enterprises, ecozone utilities, ecozone domestic enterprises, and ecozone logistics service enterprises.

The projects are expected to generate 2,300 direct jobs in areas such as Pampanga, Tarlac, General Santos City, Batangas, Cavite, Davao, Laguna, Cebu, and Metro Manila.

Panga highlighted that, from January to August 2024, the total impact of investments on job creation reached 31,827, representing a 72.91% increase compared to the 18,407 jobs created during the same period last year.

He added that these investments are projected to boost Philippine exports by USD96.6 million annually.

With the newly registered projects, total PEZA approvals for the first eight months of the year have reached PHP61.695 billion.

Panga further noted that additional investments are expected in the coming months, following PEZA's participation in international investment fairs, including the China International Fair for Investment and Trade and the Philippine-Singapore Business Investment Summit.