Fresh investments approved by the Philippine Economic Zone Authority (PEZA) during the first quarter of 2025 grew by 294 percent compared to the same period last year, reaching approximately 24 percent of its investment target for this year.

PEZA, an investment promotion agency (IPA) under the Department of Trade and Industry (DTI), said it approved ₱58.95 billion in investment pledges from January to March, almost quadruple last year’s ₱14.95 billion. These commitments typically translate into actual investments over time.

The incoming investments cover 66 new and expansion projects, which are expected to bring in 15,085 jobs and $497.46 million in projected exports.

The majority of these projects were directed to the sectors of manufacturing and information technology and business process management (IT-BPM), with 24 investment commitments each.

Thirty-two of such investments will be located in Calabarzon—comprising Cavite, Laguna, Batangas, Rizal, and Quezon—which is steadily rising as one of the country’s primary hubs for economic zones. Metro Manila followed suit, with 12 investments.

In a statement, PEZA Director General Tereso Panga said the agency’s upward trajectory reflects its strong commitment towards investment promotion and facilitation.

He said the fiscal incentives under the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act place the Philippines in a “sweet spot” for economic growth and development.

IPAs like PEZA grant tax and other perks to qualified investors, resulting in forgone revenues for the government. In return, the government expects these projects to generate economic activity, employment, and export revenues, particularly in the case of PEZA locators.

PEZA earlier set its 2025 target to grow investment approvals by nine to 10 percent.

It approved ₱214.18-billion worth of investments in 2024, a 21.89-percent increase from the previous year’s ₱175.7 billion.

For March alone, PEZA approved a total of 27 new and expansion projects worth ₱6 billion, which is 110-percent higher than the ₱2.86 billion approved during the same month last year.

These investments are seen to generate $223.5 million in exports and directly employ more than 4,500 Filipino workers.

Among the approvals last month are two big-ticket projects—a water treatment facility in Batangas and a coconut milk production plant in Misamis Oriental—with a combined commitment of ₱2.62 billion.

PEZA is confident that its upward trajectory during the first quarter will be sustained into the second quarter, as the agency intensifies its investment promotion initiatives alongside the tax-free benefits embodied under CREATE MORE.

Panga said the agency is already organizing investment missions, alongside the DTI and the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA), to keep on track with its investment target.

“We already received several inquiries and hosted inbound delegations from the United States (US), Japan, China, Taiwan, and Spain who are interested in investing in the ecozones,” the official noted.

“We are anticipating the influx of more investors looking into the Philippines for their offshore operations in Asia,” he added.