PEZA approved P12B investments in Jan.-Feb.
The Philippine Economic Zone Authority (PEZA) has approved over P12 billion worth of investment commitments during the first two months of 2024.
In a statement on Tuesday, PEZA said it has given the thumbs up for P12.096 billion in investments in January to February this year, up 18.66% in the same period last year.
“The significant upswing in our investment performance within two months underscores our commitment to achieving our target of P250 billion investments for this year,” said PEZA Director General Tereso Panga.
So far this month, the investment promotion agency approved 16 projects, composed of nine ecozone enterprises, three IT enterprises, one domestic market, two ecozone logistics services, and one developer.
PEZA said the approved projects are expected to generate P9.884 billion in investments, create 2,243 direct jobs, and yield $591.476 million in exports.
The approved projects are located in the First Philippine Industrial Park II (FPIP II-SEZ), Daiichi Industrial Park (DIP-SEZ), Light Industry & Science Park III (LISP III-SEZ), Laguna Technopark (LT-SEZ), PHIVIDEC Industrial Estate - Economic Zone, Lima Technology Center (LTC-SEZ), Mactan Economic Zone II (MEZ II – SEZ), People Technology Complex (PTC-SEZ), 1 Nito Tower in Cebu City, Embarcadero De Legazpi in Legazpi City, Albay, Light Industry & Science Park IV (LISP IV – SEZ), and Hermosa Ecozone Industrial Park (HEIP-SEZ).
In January, PEZA greenlit P2.21 billion worth of 12 projects which are expected to $69.62 million worth of exports and 1,337 direct jobs.
Broken down, the 12 projects were composed of seven ecozone export enterprises, four information technology enterprises, and one facilities enterprise.
–VAL, GMA Integrated News
