PEZA-approved investment pledges plunge in November

INVESTMENT PLEDGES approved by the Philippine Economic Zone Authority (PEZA) slumped by 58.59% to P32.211 billion in November from P77.79 billion in the same month a year ago.

- By Justine Irish D. Tabile Reporter

The investment pledges are comprised of 38 projects, which are expected to generate 9,802 jobs and $1.741 billion in exports, the agency said on Tuesday.

Of the 38 projects, 22 were in the manufacturing sector, five were facilities, four were in the information technology and business process management (IT-BPM) sector, and three were in logistics. There were also two new economic zone (ecozone) developments, and two domestic enterprises.

Most of the projects will be in Calabarzon, while the others will be in Central Luzon, the National Capital Region, the Ilocos Region, the Bicol Region, Central Visayas, Northern Mindanao, and the Davao Region.

Federation for Economic Freedom President Calixto V. Chikiamco said that the decline in pledges may reflect investors' concerns over the Philippines' economic fundamentals.

“While the corruption scandal may have affected investor sentiment a bit, more likely, investors are wary of the country’s economic fundamentals,” he said in a Viber message.

"The economy is still facing geopolitical uncertainty with the 19% tariffs on exports to the US.

Investor uncertainty, both domestic and foreign, is reflected in the anemic stock market," he added.

The US imposed a 19% reciprocal tariff on most goods from the Philippines, which has dampened export demand.