THE Philippine Economic Zone Authority (PEZA) saw its total approved investments grow by mid-double digits as of the middle of March this year.
PEZA Director General Tereso Panga said the agency’s approved investments totaled P14.951 billion from January up to the middle of this month.
The amount is higher by 19.25% compared to the P12.537 billion in investments approved from January to March 2023.
For March alone, Panga said that PEZA thumbed up a total of P2.854 billion worth of investments, up by 21.8% from the previous year’s P2.343 billion.
“These investments are predominantly by our electronics companies, IT-BPM [Information Technology-Business Process Management],” the PEZA chief said during the Saturday News Forum in Quezon City.
He added: “We see some investments from metal industry and transport. We also see some investments from the entry of the electric vehicles.”
Panga said the growing investment approvals as of the first three months of the year signifies the Marcos administration’s commitment to attract more investments to further boost the economy.
For the entire year, PEZA is targeting P250 billion worth of investment approvals.
“We are ready to attract more investments, strategic industries into the country,” Panga said. (GMA Integrated News)
