PEZA OKS P29.9-B INVESTMENTS IN JAN-APRIL; DOWN FROM P33.1B

THE Philippine Economic Zone Authority (Peza) said it approved P29.955 billion worth of investments between January and April 2024, a 9.49-percent decline from the P33.094-billion investments it approved in the same period last year.

In a statement on Monday, Peza said the investments approved in the four-month period comprise 73 projects.

The investment promotion agency said these projects are expected to generate $1.09 billion in exports and create 14,812 direct employment for the Filipino workforce.

In April 2024 alone, Peza noted there are P15.003 billion worth of investments coming from 23 Board-approved new and expansion projects.

According to Peza, these 23 projects are anticipated to generate $69.778 million worth of exports and provide 3,254 jobs.

The industries covered by these 23 projects are: export manufacturing, eight projects; IT and Business Process Management (IT-BPM), six; facilities, two; logistics, one; and ecozone development, six.

Peza said the approved new and expansion projects are located mostly in the National Capital Region, followed by Calabarzon and Central Luzon, while others are located in Bicol, Central Visayas, and Davao regions, respectively.

Meanwhile, the investments approved as of April 2024, Peza said, are in export manufacturing, IT-BPM, facilities, logistics, domestic market, and ecozone development, and are mostly located in Luzon- Calabarzon, Metro Manila, Bicol and Central Luzon; while some are in the Visayas and Mindanao islands—cebu, Davao, and Cagayan de Oro.