PEZA Reported a Total of PHP 12.096 Billion in Investments in the First Two Months of 2024

The Philippine Economic Zone Authority (PEZA) reported a total of PhP 12.096 billion in investments in the first two months of 2024, marking an 18.66% surge compared to the same period last year.

PEZA Director General Tereso O. Panga stated, “The significant upswing in our investment performance within two months underscores our commitment to achieving our target of PhP 250 billion investments for this year.”

The PEZA Board approved a total of sixteen (16) projects for the month of February: nine (9) ecozone enterprises, three (3) IT enterprises, one (1) domestic market, two (2) ecozone logistics services, and one (1) developer.

​These projects are anticipated to yield an investment of PhP 9.884 billion, generating $591.476 million in exports and creating 2,243 direct jobs, and located in the First Philippine Industrial Park II (FPIP II-SEZ), Daiichi Industrial Park (DIP-SEZ), Light Industry & Science Park III (LISP III-SEZ), Laguna Technopark (LT-SEZ), PHIVIDEC Industrial Estate – Economic Zone, Lima Technology Center (LTC-SEZ), Mactan Economic Zone II (MEZ II – SEZ), People Technology Complex (PTC-SEZ), 1 Nito Tower in Cebu City, Embarcadero De Legazpi in Legazpi City, Albay, Light Industry & Science Park IV (LISP IV – SEZ), and Hermosa Ecozone Industrial Park (HEIP-SEZ).

Notably, one of the new projects pre-qualified by the PEZA Board is engaged in the manufacture of solar wafer cells and will start its operations in July 2024.

In comparison to the corresponding period in 2023, the investments, exports, and jobs are 160.08%, 135.31%, and 319.25% higher, respectively.

​Philippine Economic Zone Authority (PEZA) promotes the establishment of economic zones in the Philippines for foreign investments. PEZA is also the Philippine government agency tasked to extend assistance, register, grant incentives to and facilitate the business operations of investors in export-oriented manufacturing and service facilities inside selected areas throughout the country proclaimed by the President of the Philippines as PEZA Special Economic Zones.