Iloilo City, Philippines – On April 19, 2024, the Philippine Economic Zone Authority (PEZA) marked a significant leap in economic development with the Board’s approval of 73 new and expansion projects worth PhP 29.955 billion for the year 2024.
Convening at the First Philippine Industrial Park (FPIP), PEZA’s actions are set to catalyze US$ 1,094.65 million in exports and create 14,812 jobs, bolstering President Ferdinand Marcos Jr.’s vision of positioning the Philippines as a leading investment hub in Asia-Pacific.
PEZA Director General Tereso O. Panga expressed confidence in these ventures, underscoring their alignment with government synergy and international relations.
“Fostering the whole of government approach with the support of our Board members from key government agencies and offices such as DOF, DOE, DILG, DOLE, NEDA, DENR, DPWH, DTI-BOI, and DOST, PEZA’s approved projects will result to mutualistic benefits for international relations, and continually champion the Philippines as Asia’s premier investment destination,” Panga said.
The April 2024 projects span various sectors including export manufacturing, IT-BPM, facilities, logistics, domestic market, and ecozone development, primarily sited in Luzon regions—CALABARZON, Metro Manila, Bicol, and Central Luzon, and extending to VisMin islands like Cebu, Davao, and Cagayan de Oro.
The board’s spotlight for the second quarter includes 23 projects, poised to inject PhP 15.003 billion into the economy, yield US$ 69.778 million in exports, and generate 3,254 job opportunities.
The distribution of these initiatives covers a spectrum of industries, with 8 in export manufacturing, 6 in IT-BPM, 2 in facilities, 1 in logistics, and 6 in ecozone development, demonstrating a diverse and robust investment landscape across several key regions.
