PEZA FIRMS LOG Q1 RISE IN INVESTMENT PLEDGES, EXPORTS

THE Philippine Economic Zone Authority (Peza) concluded the first quarter with double-digit growth in investment pledges and export revenues, noting that the majority of the locators have remained operational despite the lockdown restrictions.

In a statement on Wednesday, the investment promotion agency said it approved 57 projects in the first three months amounting to a total of P25.382 billion, which showed a year-onyear growth of 53.87 percent.

Peza said these projects are seen to generate 5,601 job opportunities.

Majority or 43 of the approved projects will be located in Luzon while 10 will be in Visayas and four in Mindanao.

e investment pledges cover various interests, including export projects (22), information technology (IT) projects (15), logistics (3), utilities (1) and tourism enterprise (1). e other eight are for economic zone development projects.

Meanwhile, the regulator of economic zones reported that exports from company locators improved by 15.63 percent to $14.92 million in the first quarter from $12.91 million year-onyear. Employment in ecozones also increased by 2.94 percent to 1.58 million workers from 1.53 million workers a year ago, Peza added.

“With the approval of new projects and increase in the investments and exports in the first quarter of 2021, this proves that Peza is unfaltering in keeping the Philippine economy afloat and being on top of its game in performing its mandate, mobilizing the country’s investment competitiveness, and creating employment opportunities for many Filipinos,” Peza Director General Charito “Ching” Plaza said.

Despite the recent imposition of modified enhanced community quarantine, Peza said

that 90 percent or 2,701 companies have continued with their operations, implementing skeletal work force and work-from-home arrangements. Per sector, the regulator said 94 percent of the manufacturing sector and 84 percent of the It-business process outsourcing industry are operational.

“Philippines is still indeed an investment haven and Peza’s brand of excellence, its onestop non-stop shop as well as becoming part of the solution during these challenging times, and continued operations—all while observing strict health and safety protocols—is chosen by many investors,” Plaza added.

Earlier this month, Peza appealed to the government for the inclusion of economic frontline workers in the A4 priority group for Covid-19 vaccination.

e regulator also said it was open to helping company locators in purchasing Covid-19 doses, even offering tax-free importation.

Plaza noted that the locators may choose their own supplier and administrator of vaccines. However, she said that Peza is “not in a position to subsidize the cost or advance payment of vaccines for and on behalf of the locators.”

Last year, Peza saw a decline in investment approvals as the lockdown measures amid the pandemic discouraged expansion plans among locators. e total investments approved by the agency in 2020 reached P95 billion, which was 19 percent lower than the P117.54 billion it registered in 2019. Projected employment from these investments is 72,703.

Peza regulates around 410 economic zones nationwide, majority or 290 of which are IT parks and centers.