Investment pledges approved by the Philippine Economic Zone Authority (PEZA) nearly doubled in the first nine months of the year, officials said on Monday.
PEZA Director General Charito Plaza said in a press conference that approvals totaled P196.457 billion, 94.12 percent higher than the P101.202 billion recorded the same period last year.
The investments covered 438 projects, lower compared to the 447 posted last year. The majority or 70 percent were foreign and the rest domestic investments.
Plaza said ecozone developments accounted for P123.718 billion while manufacturing investments reached P45.087 billion.
The top economic zone investors during the period included First Pangasinan Property Development Corp., Sarangani Energy Corp., Epson Precision (Phils), Inc., Achievement Realty Corp. and Megaworld Corp.
“As to industry sector, the highest increase is on ecozone development because of our agressive invitation…,” Plaza said, adding that the agency was also “now undertaking … partnerships with public lands managed by different government agencies.”
Investments in the information technology sector, meanwhile, reached P11.386 billion while investments in other sectors amounted to 16.265 billion.
“PEZA is aggressive in marketing and promotion … our goal is there should be no idle land,” Plaza said.
Plaza said direct employment in PEZA ecozones rose by 6.12 percent while exports likewise rose 11.47 percent to $29.261 billion.
“ PEZA registers 80 percent of the total export income of the country and 92 percent or more of the foreign investors are registered with PEZA,” she noted.