Investments in areas under the Philippine Economic Zone Authority (PEZA) grew by 2.99 percent year-on-year to P207.58 billion as of end-November, surpassing the agency’s P200-billion target for the year.
PEZA data released Tuesday showed that total investments in the same period in 2023 reached P201.55 billion.
The increase reflects a 17.57 percent rise in new and expansion projects—up from 239 projects last year—and an 89.19 percent surge in projected exports, which are expected to reach $7.39 billion.
These investments have generated 69,737 direct jobs, according to PEZA.
For November alone, the PEZA Board approved 38 new and expansion projects amounting to P32.21 billion, with projected exports of $1.741 billion and an estimated 9,802 direct jobs for Filipinos.
The newly approved projects span export manufacturing, facilities development, the Information Technology and Business Process Management (IT-BPM) sector, economic zone logistics service enterprises (ELSE), domestic market-oriented activities, and ecozone development.
These projects are located across several regions, including Calabarzon, the National Capital Region, Central Luzon, Ilocos Region, Bicol Region, Central Visayas, Northern Mindanao, and Davao Region.
“This dispersion reflects a deliberate push toward regionally balanced development and allows more provinces to benefit from job creation, industrial expansion, and increased economic activity,” PEZA said.
“Even amid external shocks and a challenging global investment climate, the ecozone industry remains undeterred. Our consistent growth reflects the trust of investors in the Philippines’ competitiveness, coupled with PEZA’s brand of service. We will continue to champion measures that strengthen our investment ecosystem and position the country as a prime hub for sustainable, technology-driven, and resilient industries,” said PEZA Director General Tereso Panga.
PEZA PHOTO