MANILA – Philippine Economic Zone Authority (PEZA) Director General Charito Plaza remains hopeful about surpassing the PHP100 billion investment approvals by the end of this year.
This, as the PEZA registered PHP72.6 billion worth of projects from January to October 2020.
In a press briefing Monday, Plaza said the PEZA Board approved 34 new projects worth PHP14.65 billion this month.
“We’re crossing fingers… We might exceed PHP100 billion this year,” she said.
She added existing PEZA locators manifested they will continue to grow their businesses in the country by bringing in new products as well as expanding their facilities.
Before 2020 ends, Plaza said PEZA is expecting investments from an Israeli company that intends to transfer its 16 branches in China to the Philippines.
“We will sign first an MOU (memorandum of understanding). They are currently finding ecozones,” she added.
In 2019, PEZA approved a total of PHP117.54 billion projects. (PNA)