PEZA approved investments surge at 8.52% in the first half of 2021

PEZA approved investments surge at 8.52% in the first half of 2021
  

03 August 2021 (Tuesday)
 

Pasay City – The Philippine Economic Zone Authority (PEZA) Director General Charito “Ching” B. Plaza has reported last Tuesday an increase of 8.52% in PEZA’s approved investments for the first half of 2021.
 

The PEZA Chief said, “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 Performance

Total economic zone investments approved for the period of January 1 to June 30, 2021 amounted to PhP 32.057 Billion which is 8.52% higher compared to last year’s approved investments worth PhP 29.541 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 for the period of 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 an 8.58% increase in employment.

Majority of the investments came from various countries such as Japan, South Korea, India, Hong Kong, and China. Western countries also include Germany, Austria, France, Canada, and the United States of America.

In terms of regions in the Philippines where the investments will be located, the top-performing region is Region IV with PhP 10.010 Billion, followed by Regions VII, XI, and NCR.

PEZA Board approvals for June 2021

For the month of June, DG Plaza highlighted that “The PEZA Board has approved sixty-two (62) new projects.”

Among the 62 recently approved projects, 22 projects fall under IT enterprises, 20 for export manufacturing enterprises, 13 for facilities, and 7 for ecozone development projects.

“These projects are essential especially as we continue to go back to our vibrant and booming economy,” said Plaza.

Optimistic for the remaining months

“As we all move forward towards herd immunity and reopening our economy, PEZA is positive that we can fulfill the last few months of 2021 with flying colors. The COVID-19 pandemic cannot stop us from performing at our best and ensuring that we continuously attract more investments, generate exports, and produce jobs for millions of Filipinos even post-pandemic,” said the PEZA Director General.

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 and employment development in the Philippines.