PEZA Reports ₱186 Billion In Investments As Of Mid-November

The Philippine Economic Zone Authority (PEZA) has recorded a total of PHP186.098 billion in investments for the year, surpassing its PHP175.71 billion target in 2023 and positioning itself to achieve its year-end goal.

From January to November 13, 2024, the PEZA Board approved 222 new and expansion projects. I Photo: Aboitiz InfraCapital

From January to November 13, 2024, the PEZA Board, under Chairman and Acting Trade Secretary Cristina Roque, approved 222 new and expansion projects.

These projects are expected to generate over US$3 billion in exports and create more than 60,000 direct jobs, reflecting a 32% increase in investment approvals compared to the same period in 2023.

PEZA Director General Tereso O. Panga expressed optimism about the investment trajectory, emphasizing that surpassing last year’s performance is a testament to investor confidence in the economy under President Ferdinand R. Marcos Jr.’s leadership.

Among the recent approvals were 24 projects worth PHP62.341 billion, including big-ticket projects such as a PHP50 billion investment in electric vehicle manufacturing and assembly in Camarines Norte.