The Philippine Economic Zone Authority (PEZA) Board has approved P13.19 billion worth of new investment commitments, which are expected to generate 2,447 employment once fully operational.
PEZA Director General Charito Plaza said the investment pledges represent the combined cost of 33 projects approved by the agency in a single day on March 11.
Of the 33 approved projects, 29 will be located in Luzon while the remaining four will be located in Visayas and in Mindanao.
For the 24 projects of registered business enterprises, 11 are for export projects, 11 are for IT projects, four are for facilities, and one for logistics and utilities respectively. Meanwhile, nine projects are classified as ecozone developer or operator projects.
Plaza cited the locator firms for continuously trusting PEZA and for believing the potentials that the Philippines despite the onslaught of this current pandemic crisis.
“PEZA indeed continues to implement its brand of excellence, one-stop-shop and continued operations albeit observing strict health and safety protocols for the safety of all,” said Plaza.
“The approval of new projects and investments is the agency’s positive action to continuously support the Philippine economy in our endeavor to maintain our competitiveness for investments despite the impact of COVID-19,” noted Plaza.
She said that PEZA is doing our best to become part of the solution during these trying times.
“We will continue to turn the threats into opportunities and help the Philippines achieve its goal of becoming an investment haven in Asia and around the globe,” noted Plaza.