Philippine Standard Time - Saturday, January 29, 2022,

PEZA economic zones’ exports boost 15.63% growth in the first quarter of 2021

PEZA economic zones’ exports boost 15.63% growth in the first quarter of 2021
May 12, 2021
PEZA economic zones’ exports boost 15.63% growth in the first quarter of 2021

PEZA economic zones’ exports boost 15.63% growth in the first quarter of 2021
 

12 May 2021 (Wednesday)
 

Pasay City – The Philippine Economic Zone Authority (PEZA) Director General Charito “Ching” Plaza on Monday reported the top investment promotion agency’s performance in the first quarter of 2021 amidst the ongoing Modified Enhanced Community Quarantine (MECQ) in Metro Manila and its four surrounding provinces namely, Cavite, Laguna, Rizal, and Bulacan.
 

With the continuous and perilous global effect of the COVID-19 pandemic and with the recent surge of COVID cases in the country, it poses continuous challenges to PEZA’s investment performance. However, PEZA remains confident as exports from economic zones soared 15.63% growth in the first quarter.

From $12.91 billion last year to $14.93 billion exports covering the same period, employment in ecozones has also increased to 2.94% which is equivalent to 1.58 million workers compared to 1.53 million workers a year ago.

The investments made in the first quarter of 2021 are also higher than last year with 53.87% increase amounting to PhP 25.382 billion with 57 PEZA Board-approved projects generating a total of 5,601 employment.

Among the 57 newly approved projects, 43 will be located in Luzon while 10 will be located in Visayas, and 4 in Mindanao.

For the 57 projects of registered business enterprises, 22 are for export projects, 15 are for IT projects, 7 are for facilities, 3 for logistics and 1 for utilities, and 1 tourism enterprise. Meanwhile, the other 8 are for ecozone development projects which sums to 57 projects in total.

Further, despite the modified enhanced community quarantine (MECQ) period from April 12 to 16, 2021, PEZA zones have reported that 90% or 2,701 companies are operating nationwide with 1.193 million employees both working in skeletal force and work-from-home arrangements. Per sector, the manufacturing sector is 94% operational while the IT-BPO industry is 84% operational.

Director General Plaza proudly recognize and give thanks to locator companies for their ceaseless support and for trusting PEZA despite the current global pandemic crisis. She added, “Philippines is still indeed an investment haven and PEZA’s brand of excellence, its one-stop non-stop shop as well as becoming part of the solution during these challenging times, and continued operations all while observing strict health and safety protocols is chosen by many investors.”

“With the approval of new projects and increase in the investments and exports in the first quarter of 2021, this proves that PEZA is unfaltering in keeping the Philippine economy afloat and being on top of its game in performing its mandate, mobilizing the country’s investment competitiveness, and creating employment opportunities for many Filipinos.” Plaza noted.