Over P800 billion investments in ecozones under Duterte

MANILA, Philippines — The Philippine Economic Zone Authority (PEZA) has cleared P800 billion worth of investments under the administration of President Duterte, bringing its approved projects to more than P4 trillion since it was established in 1995.

PEZA director general Charito Plaza said during the recent celebration of the agency’s 27th foundation anniversary that the approved investments generated 1.78 million jobs in economic zones nationwide and $933.823 billion worth of export earnings.

“With the authority’s relentless efforts fueled by its mandate to promote investments, generate exports and create employment our registered economic zones in 1995 grew from 16 to 415 special economic zones  managing 4,665 locator companies this 2022,” Plaza said.

Of the total PEZA-approved investments, P807.83 billion were approved and 88 special economic zones were proclaimed under the current administration.

“On the part of PEZA, as we relentlessly pursue to attract more foreign direct investments to the Philippines, we are also continuously implementing our ‘balancing acts’ to protect and maintain the jobs of millions of Filipino workers,” Plaza added.

To support its aim to attract investments, PEZA has launched a transformation road map which includes the promotion of new types of special economic zones such as agro-forestry ecozone, aquamarine park, defense industrial complex, halal hub, island city ecozone and a Knowledge, Innovation, Science and Technology Park.

PEZA, in partnership with the National Mapping and Resource Information Agency, has also come up with a map featuring the geographic locations of various types of the declared, prospective and candidate reservation sites for special economic zone development projects to guide interested developers and investors.

In addition, PEZA conducts the Global Biz forum to present investment opportunities in the country.

As part of efforts to better serve ecozone locators, PEZA has an electronic payment and collection system and is issuing a two-year visa for foreign investors and workers.

PEZA has also signed a memorandum of understanding with Over... From B1

Manila Electric Co. (Meralco) on the issuance of the electronic Certificate of Final Electrical Inspection or e-CFEI for PEZA companies.

As more people are receiving their vaccines and booster shots against the coronavirus disease 2019, Plaza is confident the PEZA would secure more investment pledges, as well as economic zones this year and beyond.

“With the national elections just around the corner, PEZA’s mission is beyond politics and we continue to put our best foot forward so we can bring out the best of the Philippines and the best of our fellow kababayans,” she said.

PEZA is aiming to see a six percent growth in investment pledges for this year from last year’s P69.30 billion.