PEZA approves more than P201 billion in investments from Jan-Nov

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PEZA approves more than P201 billion in investments from Jan-Nov

Benise Balaoing,

ABS-CBN News

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MANILA -- The Philippine Economic Zone Authority (PEZA) said it has approved investments worth P201.55 billion, surpassing their yearly investment target of P200 billion.

The November number is 43 percent higher than the P140.88 billion in the same period in 2023, and a 14.7 percent climb from the P175.71 billion seen at the end of the last year.

PEZA said it approved 239 new and expansion projects in the first 11 months. These can bring about over $3.9 billion in export revenues and directly give jobs to more than 70,000 Filipinos. 

This means that yearly, there was a 21.31 percent increase in approved projects, a 14 percent growth in exports, and more than double the employment opportunities.

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PEZA said that in November 2024 alone, it approved 41 new and expansion projects with a combined investment of P77.794 billion. These projects are expected to make $831.019 million in exports and create 30,623 jobs.

Ten of the projects are in export manufacturing, while four are in the information technology-business process management sector. Two are in facilities development, while one is in ecozone development.

They are located in Batangas, Laguna, Cebu, Cavite, Rizal, Pampanga, and Negros Oriental. 

PEZA Director-General Tereso Panga said this shows that investor confidence is at an all-time high.

"This only proves that investor confidence in the Philippines and in PEZA continues to thrive due to the government’s investor-friendly policy direction partnered with the ease of doing business inside our zones,” he said.

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