PEZA hopes to exceed P300 B in investment approvals

The Philippine Economic Zone Authority (PEZA) is targeting to return to its golden era by breaching the P300-billion mark for investment approvals this year or next year.

- By LOUELLA DESIDERIO

"It is our aspiration that, if not this year, we will breach the P300-billion mark by 2026," PEZA director general Tereso Panga said during the investment promotion agency's Investors' Recognition Night and celebration of its 30th anniversary.

He said achieving the target would bring the PEZA back to its heyday from 2011 to 2015 when annual investment approvals averaged P290 billion.

For this year, PEZA has set a conservative goal, to approve P250 billion in investments and an ambitious target amounting to P300 billion.

Panga told reporters that the PEZA's investment approvals from January to Dec. 12 have already reached P238 billion, just P12 billion short of the P250 billion target.

He said the agency continues to receive applications for registration.

The PEZA will determine final investment approval figures after it convenes its last board meeting for the year on Dec. 22, to approve at least four projects.