PEZA gets P25.8-B Q1 investment pledges

INVESTMENT pledges approved by the Philippine Economic Zone Authority (PEZA) went up by 53 percent to P25.38 billion in the fiRST QUARTER OF THE YEAR.

In a statement on Wednesday, PEZA said 57 projects were approved during the period that are expected to generate a total of 5,601 jobs.

Among the 57 newly approved projects, 43 will be located in Luzon, 10 will be in the Visayas, and four in Mindanao.

For the 57 projects of registered business enterprises, 22 are for export projects, 15 are for information technology projects, seven are for facilities, three for logistics, one for utilities, and one for tourism.

The remaining eight are for ecozone development projects.

PEZA said exports from economic zones also increased by 15.5 percent to $14.93 million in the first quarter of this year from the $12.91 million recorded in the same period in 2020.

Employment in ecozones also increased by 2.94 percent in the first quarter of this year, which is equivalent to 1.58 million workers compared to 1.53 million workers a year ago.

“Philippines is still indeed an investment haven and PEZA’s brand of excellence, its one-stop 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,” said PEZA Director General Charito Plaza.

“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,” she added.