PEZA approves P13 billion ecozone investments

MANILA, Philippines — The Philippine Economic Zone Authority (PEZA) has approved the registration of 33 projects expected to pump over P13 billion worth of investments into the economy.

In a statement, the PEZA said it approved the projects during its board meeting on March 11.

Once operational, the projects are expected to create jobs for 2,447 Filipinos.

The bulk or 29 of the projects will be located in Luzon, while the remaining four will be in the Visayas and in Mindanao.

Of the total approved projects, 30 are for business enterprises involved in export, information technology sector, and logistics and utilities.

Meanwhile, three projects are for ecozone development.

“We thank our locator companies for continuously trusting PEZA and for believing the potentials that the Philippines have despite the onslaught of this current pandemic crisis. PEZA indeed continues to implement its brand of excellence, one-stop-shop and continued operations albeit observing strict health and safety protocols for the safety of all,” PEZA director general Charito Plaza said.

Plaza said the approval of the new projects are expected to help the economy recover from the impact of the pandemic.

“We at PEZA are doing our best to become part of the solution during these trying times. We will continue to turn the threats into opportunities and help the Philippines achieve its goal of becoming an investment haven in Asia and around the globe,” she said.

PEZA is aiming to approve over P100 billion worth of investments for projects in economic zones this year.