PEZA investment approvals up 8.52% in first half of 2021

PEZA investment approvals up 8.52% in first half of 2021

MANILA – The Philippine Economic Zone Authority (PEZA) reported on Tuesday an 8.52-percent increase in its approved investments for the first half of the year.

“PEZA remains true to its mandate of promoting investments, creating employment, generating exports, and attaining total economic development in our country as we maintain and implement strict Covid-19 protocols and guidelines in our ecozones. We will continue to transform challenges into opportunities so we can ceaselessly serve our Filipino people, our partners, locators, and investors,” PEZA Director General Charito Plaza said in a statement.

Total economic zone investments approved from January 1 to June 30, 2021 amounted to PHP32.057 billion from last year’s approved investments worth PHP29.541 billion.

These investments came from 119 new and expansion projects and showcased a considerable growth of 5.31 percent compared to 113 in 2020.

Meanwhile, the actual exports for the period of January 1 to May 31, 2021 amounted to USD24.781 billion with 1,604,877 generated employment.

Compared to the same period in 2020, PEZA showcased a 23.35-percent growth for exports and an 8.58-percent increase in employment.

The majority of the investments came from various countries such as Japan, South Korea, India, Hong Kong, and China.

Western countries also include Germany, Austria, France, Canada, and the United States.

In terms of regions in the Philippines where the investments will be located, the top-performing region is Region 4 with PHP10.010 billion, followed by Regions 7, 11, and National Capital Region.

For the month of June, Plaza said the PEZA Board has approved 62 new projects.

Among the 62 recently approved projects, 22 projects fall under information technology (IT) enterprises, 20 for export manufacturing enterprises, 13 for facilities, and seven for ecozone development projects.

“These projects are essential especially as we continue to go back to our vibrant and booming economy,” Plaza said.

As the country aims for population protection and reopening the economy, Plaza is optimistic that PEZA can fulfill the last few months of 2021 with “flying colors”.

“The Covid-19 pandemic cannot stop us from performing at our best and ensuring that we continuously attract more investments, generate exports, and produce jobs for millions of Filipinos even post-pandemic,” she said.

PEZA continues its advocacy in promoting the creation of special economic zones, particularly in the countryside, by identifying and transforming idle lands into ecozones to help accelerate economic and employment development in the Philippines. (PNA)

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