PEZA OKs P13.19B worth of investment commitments in March

The Philippine Economic Zone Authority (PEZA) said Thursday it has approved P13.18 billion worth of investment commitments in March.

The total pledged amount is from 33 projects, which are seen to generate 2,447 employment in host areas of the economic zones, according to PEZA.

Of the 33 approved projects, 29 will be located in Luzon, while three will be established in the Visayas and one in Mindanao.

In particular, of the 33 approved investments, 12 are for export projects, 11 are for IT projects, five are for facilities, one for logistics and one for utilities, and three for ecozone development projects.

The 33 projects cover the February to March 2021 applications to PEZA and approval by its board, investment promotion agency said.

“We thank our locator companies for continuously trusting PEZA and for believing the potentials that the Philippines have despite the onslaught of this current pandemic crisis. PEZA indeed continues to implement its brand of excellence, one-stop-shop and continued operations albeit observing strict health and safety protocols for the safety of all,” PEZA director general Charito Plaza said.

“The approval of new projects and investments is the agency’s positive action to continuously support the Philippine economy in our endeavor to maintain our competitiveness for investments despite the impact of COVID-19,” Plaza said.—AOL, GMA News