The Philippine Economic Zone Authority said it registered P12.537 billion worth of investments in the first quarter, up by 53.99 percent from P8.14 billion in the same period in 2022.
“This surge in investments almost tripling the performance growth as compared to January to March 2022 is an indication that we are on the right track in achieving our 10-percent target this year,” said PEZA director-general Tereso Panga.
PEZA board approved 12 new and expansion projects with P2.343 billion worth of investments as of March 24. This brought total projects in the first three months to 42.
PEZA said of the 42 projects, it approved 40 locator projects with P8.188 billion investments and two ecozone projects worth P4.34 billion, for a total of P12.537 billion. The 42 projects also represented an increase of 44.8 percent from the 29 projects approved in the same period in 2022.
These projects are also expected to generate $616.585 million in exports and 5,236 direct employment, according to PEZA. Othel V. Campos