PEZA investment approvals down 23% to P37 billion in January-May

MANILA, Philippines — Investments approved by the Philippine Economic Zone Authority (PEZA) declined by 23 percent to P36.83 billion from January to May compared to last year’s P48.03 billion.

In a statement, the PEZA said it approved 95 new and expansion projects during the first five months of the year valued at P36.83 billion. The approved investments in the five-month period are projected to generate an export income of more than $1 billion and 19,000 direct jobs.

For May alone, the PEZA Board approved 22 new and expansion projects expected to bring in P6.87 billion worth of investments.

The approved investments in May this year are also down from P14.93 billion a year ago.

Projects approved by the PEZA in May are anticipated to generate $100.8 million in exports and create 4,616 direct jobs.

The projects encompass various industries with 10 in manufacturing, nine in information technology-business process management, and three to be undertaken by ecozone developers.

By location, Calabarzon continues to be the hotspot for investment, with 12 projects slated for areas within Laguna, Cavite and Batangas.

The other projects will be located in Taguig and Quezon City, Cebu, Bacolod, Iloilo, Pampanga and Davao del Norte.

“Guided by the investment strategies of no less than President Marcos, we shall continue to strengthen our investment attraction and facilitation efforts to continue promoting the Philippines as an enviable destination in the region,” PEZA director general Tereso Panga said.

PEZA aims to approve P250 billion worth of investments this year.

In 2023, PEZA-approved investments hit P175.7 billion.