THE Philippine Economic Zone Authority (Peza) Board approved 16 new and expansion projects in September, expected to generate P54.191 billion in investments, US$541.04 million in exports and create 4,044 new jobs.
Peza said this marked a significant increase of 285 percent in investments and 20.98 percent in exports compared to September 2023. These approvals are noted as the largest investment approvals of
the year.
Most projects are in the Calabarzon Region, which has 11 new and expanded initiatives, mainly in Laguna and Batangas. Central Visayas follows with two projects in Cebu, while the National Capital Region includes two projects in Makati and Taguig. Central Luzon has one project in Pampanga.
The newly approved projects span diverse industries, with eight focused on export manufacturing and five in the Information Technology-Business Process Management sector. Additional projects include one for facilities development, one for ecozone logistics services and one for ecozone development.
From January to September, Peza approved a total of 179 new and expansion projects, marking a significant boost in economic activity. These projects are projected to generate $2.513 billion in exports and create 35,871 direct Filipino jobs.
Of the 179 projects, 148 are in Luzon, covering areas like Albay, Bataan, Batangas, and Pampanga; 23 are in the Visayas, including Cebu and Iloilo; and eight are in Mindanao, located in Agusan del Sur and Davao.
Total investments for these projects amount to P115.887 billion, bringing Peza closer to its target of P200 billion for 2024. Year-on-year, Peza recorded a 24.31 percent increase in the number of approved projects, a 4.21 percent rise in total investments, a 5.47 percent growth in exports and a 55.82 percent surge in employment opportunities. / KOC