CENTRAL Visayas will have 39 new Philippine Economic Zone Authority (Peza)-registered projects after the investment agency approved 326 projects registered in 2020.
These approvals translate to P95.03 billion of investments.
Peza Director Gen. Charito Plaza said the new year will usher in new opportunities despite the challenges brought about by the coronavirus pandemic.
“As we start a new year amid the new normal, we will continue to serve our mandate and turn challenges into opportunities for the Filipino people and Philippine export industry this 2021 and the years to come,” said Plaza in a statement.
Of the 326 approved projects, 109 are in the information technology-business process management sector and 217 in the manufacturing sector.
Peza approved in December 2020, a total of 26 projects that are expected to bring in P6.69 billion in investments.
In terms of location, 146 of the projects are to be located in Mimaropa, 74 in the National Capital Region, 39 in Central Visayas, 34 in Central Luzon, and 33 in other regions.
In 2019, Peza registered 540 new and expansion projects worth P117.5 billion in investments.
Peza said foreign investments were up in 2020 by 21.26 percent to P59.73 billion from 2019’s P49.26 billion. Local investments, on the other hand, declined from P68.29 billion in 2019 to P35.30 billion in 2020.
“The decline can be attributed to various causes including the perilous effect of the Covid-19 imposed lockdowns beginning March 2020,” the Peza said.
However, Peza said it remained on top of the game compared with other investment promotion agencies.
The Philippine Statistics Authority reported in the last quarter of 2020 that “only Peza registered year-on-year growth in foreign investment commitments during the July-to-September period with P20.3 billion, up 97 percent from P10.3 billion last year.”
“Despite the pandemic that began in 2020 that affected the global economy and trade, Peza remains to perform at its best with the help of its registered business enterprises,” Plaza said. / JOB