PEZA says ecozone investments hit P111.2b from Jan. to Sept.

The Philippine Economic Zone Authority (PEZA) approved P111.2 billion of committed investments from January to September 7, which is 180.6

“We are on track in not just realizing our target for the year, which is a 10 percent increase in investments and where we expect also the Philippines to achieve a 6 to 7 percent GDP growth rate,” said PEZA director general Tereso Panga.

The investment promotion agency noted that almost all of its growth indicators are positive when it comes to investments, number of projects, and additional jobs, except for export sales which dropped 2.12 percent to $63.99 billion from $65.37 billion, one year since the new administration took over.

Among the IPAs, PEZA also had the highest share in foreign direct investments of 60.5 percent, contributing P35.75 billion out of the 59.9 billion in the second quarter of 2023.

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