Peza investment tally doubled to P3.8B in Feb

Philippine Economic Zone Authority

The Philippine Economic Zone Authority (Peza) on Monday said it approved P3.8 billion worth of investments in February, more than double the P1.792 billion recorded in the same period last year, according to Tereso Panga, director general of Peza.

Panga said that of those investments, five were in the export manufacturing sector, three were in facilities, then one each in information technology, logistics and utilities. The last is an expansion project in a manufacturing economic zone.

Panga said these projects would be located in Taguig City, Laguna, Batangas, Tarlac and Palawan.

The Peza started 2023 on a strong note, growing its investment approvals by 83.69 percent in January to P6.39 billion.

It also came from a record year in 2022, when its investment approvals surged to P140.7 billion from the P69.3 billion in 2021.

Previously, the Peza official said it was looking to grow its investment approvals this year by at least 10 percent, characterizing its outlook this year as bullish, drawing optimism from its investment pipeline for the year.

“As of 2023, Peza has endorsed to the Office of the President a total of 21 ecozone development projects pending for proclamation. Once proclaimed, these projects will bring in P21.207 billion investments,” Panga said in a statement.

Panga also identified seven priority sectors this year, including agriculture.

—Alden M. Monzon INQ