Manila: The Philippine Economic Zone Authority (PEZA) approved PHP30.15 billion in investments during its first Board meeting on January 23 this year, marking an increase of 1,263 percent from the PHP2.212 billion investments approved in January 2024.
According to Philippines News Agency, PEZA stated that its Board, led by Chair and Trade Secretary Ma. Cristina Roque, greenlit 12 new and expansion projects. These projects encompass five export manufacturing ventures, four Information Technology-Business Process Management projects, and three domestic market projects strategically situated across Metro Manila, Calabarzon, Central Luzon, and Central Visayas. These initiatives are projected to generate USD32.177 million in exports and create 3,270 direct jobs.
PEZA Director General Tereso Panga expressed optimism about the investment growth, stating, "This is a bright and promising welcome for 2025. The strong growth in our investment performance for January underscores our commitment to meet our 2025 target of PHP235-250 billion in investments. It is an encouraging sign that we are on the right path to success." The United Kingdom emerged as the leading source of investments this month, with contributions from China, the Netherlands, Australia, and Malaysia also showing an upward trend.
Roque highlighted the significance of these investments, noting, "This is a testament to the versatility of the PEZA ecosystem, catering to both local and international markets. The approved projects will not only strengthen our export sector but also generate substantial local employment, further fostering inclusive growth."
Among the notable approved projects, two major ventures account for PHP29.014 billion in investments. A significant domestic market enterprise is set to invest nearly PHP28 billion in its beverage production and distribution facility in Tarlac City. Another project, focused on energy storage systems, is investing more than PHP1.2 billion in the Mactan Economic Zone.
Panga emphasized the importance of these developments, stating, "This major domestic market project will play a crucial role in strengthening Tarlac's manufacturing and commercial hub. It aligns with our commitment to expanding regional investment opportunities and supporting the country's broader economic goals." He added that the strategy to secure such large-scale investments is aimed at positioning the Philippines as a premier investment destination, thereby making a lasting impact on the economy and providing benefits to communities nationwide.
PEZA is targeting a 9- to 10-percent increase in its investment goals and a 5-percent target for both export revenues and employment this year.
