THE Philippine Economic Zone Authority (Peza) approved 144 projects that could generate over 29,000 jobs in the first eight months of the year.
This exhibits a 60.4 percent increase in employment compared to the same period in 2023. During the past seven months, the approved accumulated investments are valued at P54.716 billion while the projected exports are worth US$ 1.875 billion.
“The continuous rise in the number of new and expansion projects signifies the international arena’s confidence in the Philippines’ business environment and economic potential,” said Peza Director-General Tereso Panga.
As of Aug. 7, 2024, a total of 24 new and expansion projects were approved by the Peza Board expected to bring in P9.235 billion worth of investments, $264.783 million in exports, and 4,265 employment opportunities for fellow Filipinos.
These approvals mark a 60 percent increase in new and expansion projects compared to the 15 approvals last July 2023 and a 42.98 percent increase in employment compared to the 2,983 opportunities generated during the same period last year.
A diverse combination of industries constitutes the 24 approved new and expansion projects for August 2024. These approved locator company projects consist of 14 involved in export manufacturing, four in information technology-business process management, two in facilities development, one in the domestic market and three in ecozone development.
Calabarzon continued to dominate in facilitating these ventures with 18 projects in Laguna, Batangas and Cavite, followed by Central Visayas with four projects in Cebu, and Central Luzon with two projects in Bataan. / KOC