PEZA investment approvals hit P91 billion

Investment pledges registered with the Philippine Economic Zone Authority (PEZA) doubled in the first seven months, reflecting strong investor confidence in the country.

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In a statement yesterday, the PEZA said that it approved P90.96 billion worth of investments from January to July, up from the P45.48 billion registered in the same period last year.

“This 100-percent surge in investment approvals in just seven months is a resounding vote of confidence in the Philippines as a competitive, resilient and innovation-ready investment destination,” PEZA director general Tereso Panga said.

“Investors are scaling up in our ecozones because they recognize our stable policies, world-class talent and our whole-of-government commitment to building smarter, greener and more inclusive growth centers across the country,” Panga said.

The approved investments cover 150 projects, a 25-percent increase from the 120 projects registered with the PEZA in the same period last year.