PEZA okays P80.58B in projects for 1st half

By The Manila Times

THE Philippine Economic Zone Authority (PEZA) on Monday said that it was on track to meeting this year’s investment target with 102 projects worth P80.58 billion having been approved in the first semester.

“We remain optimistic that we will sustain our positive growth trajectory for the second half of the year, given the notable increase in our KPIs (key performance indicators),” PEZA Director General Tereso Panga said in a statement.

The first semester investment approvals, the PEZA claimed, were two and a half times bigger compared to the same period last year.

The first year of the Marcos administration, Panga added, had generated investments totaling P198.8 billion from 206 projects that had created 1,805,770 jobs and $58.49 billion in exports.

Of the 206 projects, 11 were big-ticket items with a minimum of P1 billion in capital investments. The big-ticket projects were said to account for a total of P154.97 billion, comprising ecozone development (P119.26 billion), export manufacturing (P33.95 billion), and ecozone facilities (P1.76 billion).

“We continue to contribute to the overall positive performance of the administration and serve as a tool to constantly attract investments in the country and promote the Philippines as an investment haven in Asia,” Panga said.

The PEZA said that it was ramping up its investment promotion and facilitation initiatives to bring in much-needed foreign direct investments ahead of an anticipated influx of investors resulting from Marcos’ foreign trips.

“This June, PEZA welcomed several French, Czech and Dongguan delegations to the Philippines and facilitated the learning visit and study tour of the Ugandan and Papua New Guinean delegations,” Panga said.

“PEZA likewise received delegations from China, Taiwan and Japan in the first semester of the year,” he added.

The agency is also collaborating with other government offices to promote industrial peace in ecozones and the utilization of public lands for ecozone development. Automation initiatives are also being pursued to enhance the ease of doing business in the Philippines.