The Philippine Economic Zone Authority (PEZA) on Thursday announced a 205 percent surge in employment within the economic zones to 16,556 heads in the first nine months from 5,427 in the same period last year.
PEZA director-general Tereso Panga attributed the growth to the IT- Business Process Management (IT-BPM) and manufacturing industries, which are projected to create 40,527 new jobs in 2024 alone.
“We hope to increase projected jobs by at least 50 percent to reach our minimum target of 60,000 new jobs for 2024,” he said.
The IT-BPM sector remains a key driver of job growth within PEZA, accounting for about 60 percent of the total jobs created.
Panga said the industry’s positive outlook is supported by the IT-BPM Association of the Philippines’ (IBPAP) target of 120,000 new jobs for the entire sector.
He cited a thriving PEZA-registered enterprise, Hi-P Singapore, a Singaporean-owned company operating in the Philippines as one the biggest employers in the economic zones. With investments totaling P3.48 billion and creating over 4,100 direct jobs, Hi-P Singapore is a major supplier to global technology giant Dyson.
PEZA approved 16 new and expansion projects, valued at P54 billion in September 2024. These projects are expected to generate an additional 4,000 jobs and boost exports by 20 percent.
The agency has been actively expanding its presence in rural regions and emerging growth areas, such as Calabarzon, Cebu, NCR and Pampanga.
