The Philippine Economic Zone Authority (PEZA) said it approved 21 new and expansion projects worth P6.9 billion in August 2024.
“The P6.9 billion in new and expansion projects approved in August shows the growing confidence of investors in the Philippines,” said PEZA deputy director-general for operations Vivian Santos at the sidelines of a business forum organized by the Japan International Cooperation Agency (JICA).
These projects, she said, span various sectors, including six in manufacturing, six for IT enterprises, four for ecozone development and one project each for agro-industrial facilities, enterprise, ecozone utilities, ecozone domestic enterprise and ecozone logistics service enterprise.
Santos said Japanese investors remained the biggest contributors to PEZA’s growth as a primary investment promotion agency (IPA).
Japan accounted for 28 percent of total investments in the economic zones, with investments of over P798 billion, $16.3 billion in exports and job creation of 342,845 across 877 registered businesses.
PEZA reported a 77-percent decline in investment pledges in the first seven months of 2024 to P54.72 billion from P97.16 billion in 2023.
Registered projects during the period also decreased to 114 from 117.
