Approved investments at the economic zones reached P12.09 billion in the first two months of 2024, up by 18.66 percent from P10.19 billion generated in the same period in 2023.
“The significant upswing in our investment performance within two months underscores our commitment to achieving our target of PhP 250 billion investments for this year,” said Philippine Economic Zone Authority (PEZA) director-general Tereso Panga.
The PEZA board approved 28 new and expansion projects on Feb. 16, 2024. These investments are expected to generate $661.095 million in exports and create 3,580 direct employment.
It said that in February, PEZA approved 9 ecozone enterprises, 3 IT enterprises, 1 domestic market locator, 2 ecozone logistics services and 1 developer for an estimated investments of P9.884 billion.
New and expansion projects approved in February are located at the First Philippine Industrial Park II (FPIP II-SEZ), Daiichi Industrial Park (DIP-SEZ), Light Industry & Science Park III (LISP III-SEZ), Laguna Technopark (LT-SEZ), PHIVIDEC Industrial Estate-Economic Zone, Lima Technology Center (LTC-SEZ), Mactan Economic Zone II (MEZ II – SEZ), People Technology Complex (PTC-SEZ), 1 Nito Tower in Cebu City, Embarcadero De Legazpi in Legazpi City, Light Industry & Science Park IV (LISP IV-SEZ) and Hermosa Ecozone Industrial Park (HEIP-SEZ).