The Philippine Economic Zone Authority (PEZA) saw an increase in investment promises to P30.156 billion in January, making it on its way this year to stimulate investments by no less than 10%.
In a statement on Monday, Peza said that his board approved P30.156 billion in investment books during the meeting of January 23, 1,263% higher than the P2,212 billion in commitments approved in the same month last year.
The PEZA board approved 12 new and expansion projects, including two BIG-ticket projects worth a combined P29,014 billion.
“This is a smart and promising welcome for 2025. The strong growth in our investment performance for January underlines our dedication to achieve our goal from 2025 from P235-250 billion in investments,” said PEZA director-general Tereso O. Panga.
“It is an encouraging sign that we are on the right track to success.”
Peza said that the 12 approved projects are expected to generate $ 32,177 million in export this month and create 3,270 jobs.
Breakdown, the projects include five export production companies, four information technology and projects for business process management and three domestic market projects.
These are located in Metro Manila, Calabarzon, Central Luzon and Central Visayas, said Peza.
Peza said that the largest investment approved by the board this month includes a production and distribution facility of P28 billion in Tarlac City. The project will be carried out by a domestic market company that has not identified Peza.
“This important domestic market project will play a crucial role in strengthening the production and commercial hub from Tarlac. It is in line with our dedication to expand regional investment opportunities and to support the broader economic goals of the country, “said Mr. Panga.
Another investment with BIG Ticket is the P1.2 billion energy storage system in Mactan Economic Zone in Cebu.
“This is proof of the versatility of the PEZA ecosystem, both for local and international markets,” said trade secretary and PEZA chairman Ma. Cristina A. Roque, with reference to the various reach of the approved projects.
“The approved projects will not only strengthen our export sector, but also generate substantial local employment, which further promotes inclusive growth,” she added.
According to Peza, the United Kingdom emerged in January as the leading international investment source. Investments from China, the Netherlands, Australia and Malaysia have also risen in January.
“Our strategy to protect such large -scale investments is not just about stimulating growth in specific regions. The point is to position the Philippines as a leading investment destination, having a lasting impact on the economy and to offer benefits to communities nationwide, “he added.
PEZA is planning to book at least an increase in the investment goods inspections of 9-10% this year.
Last year, the Investment Promotion Agency P214,176 billion in projects approved, an increase of 22% compared to the previous year. – Justine Irish D. Tabile