THE Philippine Economic Zone Authority (PEZA) said its project pipeline remains “healthy and robust,” keeping it on track to achieve its target this year after having approved 29 projects in August valued at P14.872 billion.
“What we’re seeing now is still a healthy, robust pipeline of projects — and with our expanded regional engagements, we expect strong growth momentum in the months ahead,” PEZA Director General Tereso O. Panga said in a statement on Thursday.
“With the volume of interest we are receiving and the quality of projects in our pipeline, we are confident that the coming months will not just achieve our target for the year but also bring even greater gains for our economy and our people,” he added.
Investment approvals declined 8% year on year in August due to strong year-earlier activity after the PEZA Board met twice in August 2024, it said.
“This occurrence is common, especially as PEZA is mandated to convene as necessary to ensure that projects move forward without delay,” it added.
The new projects approved in August are expected to create 4,764 jobs and generate $1.374 billion in exports.
Of the 29 projects approved this month, 16 involve manufacturing, five information technology and business process management, four domestic market-oriented activities, and three economic zone development ven-tures. One approval concerns facilities.
A majority of the applicants are expected to locate in Region IV-A, with the others setting up shop in the National Capital Region and in Regions III, VII, XI, and XII.
The latest approvals brought PEZA’s total approvals this year to P105.834 billion, up 71.54% year on year.
These consist of 179 projects, which are expected to generate 40,638 jobs and $3.377 billion in exports.
“Year to date, investors from the Cayman Islands lead the investments by nationality, followed by South Korean, Chinese, American, and Dutch investors,” PEZA said.
Investors incorporated in the Cayman Islands provided P13.143 billion, while South Korean and Chinese investments totaled P10.765 billion and P6.152 billion, respectively.
The eight-month approvals total represents 42.3% of PEZA’s P250-billion target for the year. — Justine Irish D. Tabile
