PEZA approves over P80 billion worth of investments in September
By Beatriz Marie D. Cruz, Senior Reporter THE PHILIPPINE Economic Zone Authority (PEZA) has approved P80.68 billion worth of investments in September, with projects centered mostly in export manufacturing and information technology-business process management (IT-BPM). In a statement on Tuesday, PEZA investment approvals in September jumped by 65.08% from the P48.87 billion approved in the same month last year. These are equivalent to 26 new and expansion projects, with their export value estimated at $2.34 billion. These projects are expected to generate 6,292 jobs. Nine projects approved in September are in export manufacturing, while four are information technology – business process management (IT-BPM) projects. Also approved were four facility projects, three economic zone developments, three logistics projects, two domestic market enterprises, and one project involving utilities. The investments will be located across Metro Manila, CALABARZON, Central Luzon, and Central Visayas, PEZA said. From January—September, the PEZA Board approved 222 new and expansion projects worth P297.14 billion, up 92.07% from last year. Majority of the projects approved during the period were in manufacturing (89), followed by IT-BPM (34); ecozone development (34); and facilities (23). Other industries covered by the end-September approvals include logistics (18); domestic market (17); tourism (4); and utilities (3). With its January—September approvals, PEZA is close to hitting its P300-billion investment target for 2026.
BusinessWorld
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