Peza chief says P2.845 billion in investments approved for March

PPhilippine Economic Zone Authority (Peza) Director General Tereso Panga says P2.845 billion in investments, around half of which were from the foreign trips of President Ferdinand Marcos Jr., were approved for the month of March 2024. INQUIRER FILES

Peza chief says P2.845 billion in investments approved for March

MANILA, Philippines — The Philippine Economic Zone Authority (Peza) said that P2.845 billion in investments, around half of which were from the foreign trips of President Ferdinand Marcos Jr., were approved for the month of March

“Ganoon ho kami ka- bullish ngayon. Kahapon, nagkaroon ho kami ng board meeting and for March, ngayon ko lang po… if you will allow me, I will now share with the media our approval – just yesterday, our board meeting, we added another PhP2.845 billion,” Peza Director General Tereso Panga said in a statement released by the Presidential Communications Office on Saturday.

(That is how bullish we are now. Yesterday, we had a board meeting and for March, if you will allow me, I will now share with the media our approval – just yesterday, our board meeting, we added another P2.845 billion.)

Panga added that investments for the first quarter of 2024 reached P14.951 billion, which is 19.25 percent higher than the P12.537 billion achieved in the same period last year.

READ: Bongbong Marcos’ foreign trips yield P4 trillion worth of investments

“If you will sum up our first quarter performance, January to March, already January to March – P14.951 billion in investments,” he said.

According to the Peza, the country posted a 25 percent growth in its investment rate in 2023 – which amounted to P175.7 billion.