Investment pledges approved by the Philippine Economic Zone Authority (PEZA) increased by 27 percent to P14 billion in January from P11 billion the year before.
At a press briefing, PEZA Director General Charito Plaza attributed the growth to her agency’s “aggressive marketing and promotion.”
She noted, however, that part of the pledges were for 32 projects, a 42-percent drop from last year’s 56.
Approved investment pledges last year rose by 8.89 percent to P237 billion from P218 billion in 2016.
Of these, 67 percent were from foreign companies and 32 were local ones.
Top sectors were ecozone development, manufacturing, and information technology.
“Our top five investors are Japanese, Filipinos, Dutch, Americans, and Singaporeans,” Plaza said.
PEZA is targeting 10-percent growth in investment pledges this year. To meet it, the agency is set to conduct a two-day “global ecozone convergence” to match businesses and attract more investors.
The global ecozone convergence “is an international marketing roadshow where we are going to market all the economic zones identified in cities and provinces nationwide,” Plaza explained.
“These ecozones will be included in the Philippine Economic Zones Map, so we are inviting investors and industries in every country,” she added.