PEZA greenlights nearly P49 billion worth of investments in September

The Philippine Economic Zone Authority (PEZA) has already achieved over 60% of its target approvals this year after greenlighting P48.87 billion worth of investment pledges in September.

The approvals consisted of 36 projects, which are expected to create 10,312 jobs and generate $1.113 billion in exports.

“These approvals demonstrate enduring investor confidence in the Philippines,” PEZA Director General Tereso O. Panga said in a statement on Tuesday.

“Backed by sustained momentum and robust investment activity, we are on track to attain our P250 billion goal and strengthen our standing as a leading investment destination in Asia,” he added.

For the first nine months, PEZA approved P154.7 billion worth of investment commitments, up 33.5% from P115.89 billion in the same period last year.

The 215 projects are expected to create 50,430 jobs and generate $4.49 billion in exports. — Justine Irish D. Tabile