Ecozone investments soar 80% in 5 months

Investment pledges in economic zones approved by the Philippine Economic Zone Authority (PEZA) soared by 80 percent in the first five months of the year, despite uncertainties stemming from the reciprocal tariffs imposed by the United States.

- By Louella Desiderio

In a statement yesterday, the PEZA said it approved 102 projects worth P66.34 billion from January to May, higher than the P36.83 billion registered in the same period last year for 95 projects.

The approved investments are expected to generate $1.09 billion in export revenues and 29,337 direct jobs.

The projects approved by the PEZA during the five-month period include manufacturing, information technology, business process management, domestic enterprise, facilities, as well as utilities and ecozone development.