PEZA Logs PHP37 Billion Investment Pledges In First 5 Months Of 2024

The Philippine Economic Zone Authority (PEZA) has logged a total of PHP36.83 billion worth of approved investment pledges from January to May 2024, according to PEZA Director-General Tereso O. Panga.

The PEZA projects will be located in Calabarzon with 12 projects, Metro Manila with three projects, three in Cebu, and one each in Bacolod, Iloilo, Pampanga, and Davao del Norte. I Photo: Anflo Industrial Estate

The agency registered a total of 95 projects in the first five months of the year, which are expected to contribute an additional USD1 billion in exports, he added.

Panga highlighted that the number of registered projects for the period is 63 percent higher than last year.

He noted, “The rise in the number of approved projects emphasizes PEZA’s pivotal role in catalyzing investment inflow and fostering sustainable employment across various sectors.”

The value of these investment pledges, however, was marked by a 23 percent decrease from the PHP48 billion approvals in the same period in 2023.

Panga underscored that the number of jobs that will be created from these January to May 2024 investments surged by 324 percent to 19,000 from just 4,480 jobs in the same period a year ago.

For May 2024 alone, PEZA approved 22 projects, which include 10 manufacturing projects, nine in information technology and business process management, two in domestic markets, and one focusing on facilities development.

These projects will be located in Calabarzon with 12 projects, Metro Manila with three projects, three in Cebu, and one each in Bacolod, Iloilo, Pampanga, and Davao del Norte.

Panga declared, “We shall continue to strengthen our investment attraction and facilitation efforts to continue promoting the Philippines as an enviable destination in the region.”