Peza halves 2020 investment registration target | Inquirer Business

Peza halves 2020 investment registration target

Uncertainty over tax breaks, COVID-19 woes
/ 04:09 AM July 20, 2020

The Philippine Economic Zone Authority tempers its expectations and sets only about P60 billion in investment registration goal for the year as the pandemic adversely affects investor sentiment.

This is half of what the agency got in 2019.

Unless the Peza defies the odds, it would see its investment pledges registration drop for the third year in a row, as the uncertainty over the future of the ecozone locators’ tax breaks is further complicated by the impact of the health crisis.

Article continues after this advertisement

When asked for a realistic target for 2020, Peza Director General Charito Plaza said in an interview on ABS-CBN News Channel last week that they were expecting only half of year-ago figures.

FEATURED STORIES

She did not cite specific figure. Last year, it registered P117.5 billion in pledges, putting this year’s target to P58.75 billion.

This is a stark contrast from the optimistic outlook the agency had back in January. At that time, Plaza said the agency hoped to bounce back with a 5-to 10-percent growth. INQ

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our daily newsletter

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

TAGS: Business, Peza, Philippine Economic Zone Authority

Your subscription could not be saved. Please try again.
Your subscription has been successful.

Subscribe to our newsletter!

By providing an email address. I agree to the Terms of Use and acknowledge that I have read the Privacy Policy.

© Copyright 1997-2024 INQUIRER.net | All Rights Reserved

This is an information message

We use cookies to enhance your experience. By continuing, you agree to our use of cookies. Learn more here.