PEZA approvals up 19% to P12-B in Jan-Feb 2024

By Kris Crismundo

February 19, 2024, 10:04 pm

MANILA – The Philippine Economic Zone Authority (PEZA) reported Monday that its investment approvals in the first two months of the year increased by 18.66 percent to PHP12.10 billion from PHP10.19 billion in the same period in 2023.

These projects came from 28 new and expansion projects that will contribute USD661.1 million in exports revenues and will create additional 3,850 jobs.

“The significant upswing in our investment performance within two months underscores our commitment to achieving our target of PHP250 billion investments for this year,” PEZA Director General Tereso Panga said.

For February alone, the PEZA Board approved a total of 16 projects including nine ecozone enterprises, three IT enterprises, one domestic market, two ecozone logistics services, and one ecozone developer.

Investments of these 16 projects have a total value of PHP9.88 billion.

Projects that were approved this month alone are expected to add USD591.48 million in exports and generate 2,243 direct jobs once operational. (PNA)