Peza OKs P15B worth of new investments

Philippine Economic Zone Authority

MANILA, Philippines — The Philippine Economic Zone Authority (Peza) has approved P15 billion worth of new investments so far in April, with these business ventures seen generating $69.778 million in export revenues annually as well as 3,254 new jobs.

Peza records showed that eight of these investments are engaged in export manufacturing, six each in information technology-business process management (IT-BPM) and ecozone development, two in facilities, and one in logistics.

The biggest among these approved projects is the P12.3-billion special economic zone project in San Miguel, Tarlac.

This was followed by the P823-million expansion of a special economic zone in Tanauan Batangas, and the P373.83-million IT Park in Dumaguete City, Negros Oriental.

READ: Peza eyes 15% increase in approved investments for 2024

During the first quarter of this year, Peza approved P14.95 billion worth of new investments across 50 projects.

For this year, Peza is targeting a 15-percent growth in its approvals following last year’s record of P175.7 billion.

Doubling investments

In 2022, Peza-approved investments more than doubled to P140.7 billion from the P69.30 billion it tallied in 2021.

It approved P95.03 billion worth of investments in 2020, P117.54 billion in 2019, and P140.2 billion in 2018.

Meanwhile, Peza Director General Tereso Panga said they were pushing for the increased adoption of industry 4.0 technology, sustainable development goals, and a circular economy.

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

“We aim to make ecozones integrated, mixed-use, smart, self-contained and self-sustaining township development, with an embedded port, power, water, telecom, transport, housing, schools, commercial and other ancillary facilities,” Panga said in his speech during a forum on emerging technologies organized by Peza in Pasay City.

To date, Peza has around 422 operating economic zones across the country, the majority of which are in Luzon.

Around 4,300 companies, referred to as “locators,” are also operating inside these economic zones. INQ