Investments in new economic zones reached P9.17 billion under the administration of President Ferdinand Marcos Jr., according to the Philippine Economic Zone Authority (PEZA).
PEZA said investments in new ecozones climbed 60.8 percent in 2024 to P5.63 billion from P3.5 billion in 2023.
“The mix of IT and manufacturing ecozones has played a vital role in achieving this milestone,” said PEZA director-general Tereso Panga.
He said that over the past two years, 22 ecozone projects were launched, including 10 manufacturing zones, 11 IT parks and one agro-industrial zone.
Panga said 2024 saw the proclamation of 12 new economic zones, following the 10 zones established in 2023.
A notable trend in 2024 was the increased focus on locator projects, with 78 percent of investments directed toward these initiatives, he said.
“Previously, the formula was 60-40 in favor of locators. Now, we’re seeing an even greater push in this direction,” Panga said.
Economic zones continued to drive employment, with IT companies leading the charge.
Top job generators included Accenture Inc. with 87,435 employees; Concentrix CVG Philippines Inc. with 56,550 employees; and TelePhilippines Inc. with 37,720 employees.
Panga said the sustained collaboration with investors is key to maintaining growth.
“By showcasing the benefits of the CREATE and CREATE More regimes, we continue to attract high-value investments that contribute to the Philippines’ economic progress,” he said.
