PEZA investment approvals hit P186 B

Investments approved by the Philippine Economic Zone Authority (PEZA) reached over P186 billion from January to November, surpassing last year's total and keeping the investment promotion agency on track to hit its P200 billion investment approvals target for the year.

-  LOUELLA DESIDERIO

In a statement yesterday, the PEZA said investment approvals in the 11-month period hit P186.1 billion, higher than the P175.71 billion approved in full-year 2023.

The approved investments from January to November was also up by 32 percent from the P140.88 billion approved in the same period last year.

The approved investments cover new and expansion projects that are expected to generate more than $3 billion in exports and create 60,000 jobs.

For November alone, the PEZA approved P62.34 billion investments.

These comprise of 24 new and expansion projects that are expected to generate $300 million in exports and provide more than 20,000 jobs.