PEZA Director General Charito Plaza (Photo courtesy of PEZA)
MANILA – Philippine Economic Zone Authority (PEZA) Director General Charito Plaza said Friday the investment promotion agency is now looking at 7 to 8 percent growth in investment approvals this year,
In an interview with ABS-CBN News Channel, the new growth outlook is slightly higher than its previous projection of a 6 percent increase in approved investments for the full year of 2022.
PEZA approved some PHP69.3 billion worth of project registrations in 2021 that would create 35,245 jobs once these projects are fully operational.
Plaza said PEZA is more optimistic about its growth this year “with these new laws and aggressive marketing promotion of the Philippines to become an investment haven in Asia”.
With the signing of the amended Public Service Act last month, the Duterte administration was able to deliver the enactment to law of the three landmark bills, which also include amendments to the Retail Trade Liberalization Act and Foreign Investment Act.
Plaza added that with these three key economic legislations of the administration, which allow full foreign ownership in more sectors, PEZA hopes to attract boost foreign direct investment inflows in the Philippines starting this year.
She said this will also help the country to sustain its record-high FDI inflows of USD10.5 billion last year.
Currently, Plaza is in Abu Dhabi to invite Emirati businesses to establish their operation in economic zones in the Philippines. (PNA)
