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Manila Bulletin devider Business devider Trade & Industry devider PEZA approves P12-B investments in first 2 months of 2024

PEZA approves P12-B investments in first 2 months of 2024

Published Feb 19, 2024 10:11 am

The Philippine Economic Zone Authority (PEZA) recorded P12.1 billion investments in the first two months of 2024, which is 19 percent higher than P10.2 billion logged in the same period last year.

In January and February, the agency approved P2.21 billion and P10.9 billion investments respectively.

“The significant upswing in our investment performance within two months underscores our commitment to achieving our target of PhP 250 billion investments for this year,” remarked PEZA Director General Tereso O. Panga.

To date, the PEZA Board has approved 28 new and expansion projects, which are projected to generate 3,580 direct jobs and $661.1 million in exports.  

On Feb. 16, the agency approved 16 projects including nine ecozone enterprises, three information technology (IT) enterprises, a domestic market, two ecozone logistics services, and a developer.

These 16 projects are expected to create 2,243 direct jobs and $591.5 million in exports.

Last month, it made 1,337 direct jobs from 12 new and expansion projects, comprising seven ecozone export enterprises, four IT enterprises, and a facilities enterprise; generating $69.6 million in exports.

The February-approved projects will be done in the First Philippine Industrial Park II (FPIP II-SEZ), Daiichi Industrial Park (DIP-SEZ), Light Industry & Science Park III (LISP III-SEZ), Laguna Technopark (LT-SEZ), PHIVIDEC Industrial Estate - Economic Zone, Lima Technology Center (LTC-SEZ), Mactan Economic Zone II (MEZ II – SEZ), People Technology Complex (PTC-SEZ), 1 Nito Tower in Cebu City, Embarcadero De Legazpi in Legazpi City, Albay, Light Industry & Science Park IV (LISP IV – SEZ), and Hermosa Ecozone Industrial Park (HEIP-SEZ).

During its Board Meeting at the LIMA Technology Center – Special Economic Zone (LTC-SEZ) in Malvar, Batangas, Panga inspected the facilities of Epson Precision (Philippines), Inc. and Grandsun Advanced Electronics (Philippines) Co. Inc.

Akifumi Takei, the President of Epson Precision (Philippines) reported that, “as of February 14, 2024, we have created 20,308 jobs in our three factories. We are also proud to say that 80 percent of our inputs in our Philippines are purchased locally.”

As of January, Epson Precision (Philippines) has reported investments amounting to P18.8 billion.

Meanwhile, Grandsun Advanced Electronics (Philippines) Co. Inc. logged a total of P75 million investments.

 

 

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PEZA Director General Tereso O. Panga
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