Investment pledges approved by the Philippine Economic Zone Authority (PEZA) in the first half of 2021 grew 8.52 percent.
PEZA Director General Charito “Ching” B. Plaza reported that total economic zone investments approved for the period of January to June 30, 2021 amounted to P32.057 billion, 8.52 percent higher than the P29.541 billion approved in the same period last year.
The committed investments include 119 new and expansion projects, a modest 5.31 percent growth from the 113 projects approved in the same period in 2020.
Majority of the investments came from various countries such as Japan, South Korea, India, Hong Kong, and China. Western countries also include Germany, Austria, France, Canada, and the United States of America.
More than P10 billion of the committed investments are expected to be located in Region 4. Other top choice locations are Regions VII, XI and the National Capital Region.
For the month of June, Plaza said the PEZA Board approved 62 new projects. These projects include 22 IT, 20 export manufacturing enterprises, 13 enterprise facilities, and 7 ecozone developments.
“These projects are essential especially as we continue to go back to our vibrant and booming economy,” said Plaza.
In terms of exports, Plaza reported that PEZA enterprises generated actual exports of $24.781 billion for the period January to May this year or 23.35 percent higher than the same period last year.
Employment by PEZA enterprises also increased reached 1,604,877 or 8.48 percent more than last year.
Plaza expressed confidence of further growth in investments inflow in the second semester of the year.
“As we all move forward towards herd immunity and reopening our economy, PEZA is positive that we can fulfill the last few months of 2021 with flying colors. The COVID-19 pandemic cannot stop us from performing at our best and ensuring that we continuously attract more investments, generate exports, and produce jobs for millions of Filipinos even post-pandemic,” said the PEZA Director General.
She said PEZA will continue its advocacy in promoting the creation of special economic zones particularly in the countryside by identifying and transforming idle lands to help accelerate economic and
employment development in the country.