Investment pledges approved by the Philippine Economic Zone Authority (PEZA) have exceeded ₱100 billion in the first eight months of the year, fueled by strong investor confidence in the country.

In a statement, the PEZA said it has approved investments worth ₱105.83 billion from January to August, a 72 percent increase from ₱61.69 billion during the same period last year.

“Investors are voting with their capital, and they are choosing the Philippines as a place to grow their businesses,” said PEZA Director General Tereso Panga.

These pledges, which will eventually materialize into actual investments, cover 179 new and expansion projects—up 9.82 percent from 163 projects in the previous year.

The majority of these projects, specifically 147, are expected to rise in Luzon. Both Visayas and Mindanao lag behind with 25 and seven projects, respectively.

The projects span manufacturing, information technology, and business process management (IT-BPM), domestic, facilities, ecozone development, logistics, and utilities.

The manufacturing sector attracted the highest number of investment pledges, with 82 projects approved by the PEZA.

The investment promotion agency estimates that these projects will create over 40,000 jobs and generate $3.38 billion in export revenues.

For August alone, the PEZA approved 29 projects worth ₱14.87 billion, a decrease of eight percent from approximately ₱16.22 billion in the same month last year.

The agency attributed the decline to the two meetings held by the PEZA Board in August 2024. On Aug. 7 last year, the board approved investment pledges amounting to ₱9.24 billion, and later ₱6.98 billion on Aug. 27.

The PEZA said this is a common occurrence as it is mandated to convene as necessary to ensure that projects move forward without delay.

For August, four big-ticket projects were approved, bringing in a combined total investment of ₱11.24 billion. This brings the total of big-ticket projects to 16, with a value of ₱78.98 billion.

Year-to-date, investors from the Cayman Islands have led investments by nationality, with pledges totaling ₱13.14 billion. South Korea (₱10.76 billion), China (₱6.15 billion), the United States (₱3.28 billion), and the Netherlands (₱2.31 billion) round off the top five.

“With the volume of interest we are receiving, and the quality of projects in our pipeline, we are confident that the coming months will not just achieve our target for the year but also bring even greater gains for our economy and our people,” said Panga.

With the ₱105-billion investment approvals, Panga said the PEZA has now achieved 42 percent of its annual target for this year.

The PEZA aims to surpass its approved investments of ₱214.18 billion from last year by nine to 10 percent.

As an investment promotion agency, the PEZA offers incentives to qualified investors, which leads to forgone revenues for the government.

In return, the government anticipates that these projects will stimulate economic activity, generate employment opportunities, and increase export revenues.