PEZA okays P13-B investments

PEZA okays P13-B investments

MANILA – The Philippine Economic Zone Authority (PEZA) has approved PHP13.19 billion worth of investments involving 33 projects, the investment promotion agency said in a statement Thursday.

The projects were approved during the agency’s board meeting on March 11, PEZA said.

“The approval of new projects and investments is the agency’s positive action to continuously support the Philippine economy in our endeavor to maintain our competitiveness for investments despite the impact of Covid-19 (coronavirus disease 2019),” PEZA director general Charito Plaza said.

Of the 33 projects, 29 will be located in Luzon and four other projects will be put up in Visayas and Mindanao.

Nine of the newly registered projects are economic zone development.

Once in full operation, the projects will generate 2,447 jobs in their respective host areas.

“We thank our locator companies for continuously trusting PEZA and for believing the potentials that the Philippines have despite the onslaught of this current pandemic crisis. PEZA indeed continues to implement its brand of excellence, one-stop-shop, and continued operations albeit observing strict health and safety protocols for the safety of all,” Plaza added.

To enhance the ease of doing business with PEZA and ecozones, Plaza is pushing for an automated system as it recently signed an agreement with I-Pay MYEG Philippines Inc., a one-stop provider of e-government solutions and payment services.

Plaza added automation is also being rolled out in Cavite Economic Zone as well as ecozones in Mactan and Baguio City. (PNA)

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