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Writer's pictureBy The Financial District

PEZA Marks PHP2.845 Billion Investment Approvals

The Philippine Economic Zone Authority (PEZA) disclosed the approval of PHP2.845 billion in investments for the month of March, nearly half of which stemmed from the foreign trips of President Ferdinand R. Marcos Jr.


President Marcos's foreign trips reportedly contributed significantly to attracting investments, potentially reaching 43% of the agency's PhP175.7 billion target, approximately PhP75 billion. I Photo: Bongbong Marcos Facebook



During the Saturday News Forum in Quezon City, PEZA Director General Tereso Panga stated that the investment approvals were granted following a board meeting.


Panga noted that this amount represents a 21.8% increase compared to the same period last year, totaling PhP2.343 billion. He emphasized that it reflects the agency's strong efforts to attract more investments this year.



Panga remarked, "If you sum up our first-quarter performance, January to March – P14.951 billion in investments, which is 19.25% higher than P12.537 billion achieved in the same period last year."


Highlighting the impact of President Marcos's foreign trips, particularly to Germany and the Czech Republic, Panga mentioned that based on PEZA's analysis, these trips contributed significantly to attracting investments, potentially reaching 43% of the agency's PhP175.7 billion target, approximately PhP75 billion.


All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

In 2023, the Philippines experienced a notable investment growth rate of 25%, amounting to PhP175.7 billion, up from the base figure of PhP140.7 billion in 2022.


Panga remarked that all of PEZA's current indicators are positive for exports and employment, signaling an upward trajectory for the Philippines in 2024. He attributed this trajectory to the country's excellent gross domestic product (GDP) performance since 2022.


Government & politics: Politicians, government officials and delegates standing in front of their country flags in a political event in the financial district.

Panga highlighted President Marcos's assumption of office during the country's recovery from the COVID-19 pandemic. He noted a significant increase in investments by 103% during his administration's second half.


Business: Business men in suite and tie in a work meeting in the office located in the financial district.

PEZA, established in 1995, designates areas across the Philippines as economic zones, succeeding its predecessor, the Export Processing Zone Authority (EPZA), established in 1969 by the late President Ferdinand E. Marcos Sr.


PEZA currently oversees 422 operating economic zones, encompassing various sectors such as manufacturing, agri-industrial, tourism, and IT-BPM.


Market & economy: Market economist in suit and tie reading reports and analysing charts in the office located in the financial district.

These economic zones are home to over 4,300 export-oriented locator companies.


Panga emphasized PEZA's substantial contribution to the economy, accounting for almost 17% of the country's GDP. Additionally, more than 50 to 60% of the country's total exports of goods and services come from PEZA's locator companies alone.




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