The Philippine Economic Zone Authority (PEZA) reported on Tuesday an 8.52% increase in its approved investments for the first half of 2021.
“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 PEZA investments approved from January 1 to June 30, 2021 amounted to P32.057 billion, up from last year’s approved investments worth P29.541 billion.
These investments came from 119 new and expansion projects and showcased a considerable growth of 5.31% compared to 113 in 2020.
Meanwhile, the actual exports from January 1 to May 31, 2021 amounted to US$24.781 billion with 1,604,877 generated employment.
Compared to the same period in 2020, PEZA showcased a 23.35% growth for exports and 8.58% employment hike.
The majority of the investments came from various countries including Japan, South Korea, India, Hong Kong, China, and western countries like Germany, Austria, France, Canada, and the United States.
In terms of regional distribution in the country where the investments will be located, the top-performing region is Region 4 with P10.010 billion, followed by Regions 7, 11, and National Capital Region.
Plaza said last June alone, the PEZA Board approved 62 new projects. Among the 62 projects, 22 fall under the information technology (IT) category. 20 are export manufacturing enterprises, 13 are facility firms and seven are ecozone development ventures.
“These projects are essential especially as we continue to go back and return to our vibrant and booming economy,” she stressed.
As the country gears for population protection and reopening of the economy, Plaza expressed optimism PEZA can fulfill the last few months of 2021 with “flying colors”.
“The Covid-19 pandemic cannot stop us from performing our best and ensuring that we continuously attract more investments, generate exports, and produce jobs for millions of Filipinos,” she shared.
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 development and generate more employment opportunities for Filipinos.