MANILA — Invest-ment approvals at the Philippine Economic Zone Authority (PEZA) have increased by 98 percent in the first five months of the year.
PEZA director general, Charito Plaza, said invest-ment pledges in the agency reached P107.75 billion in the January to May 2017 period, up from P54.38 billion approvals in the same period last year.
Plaza shared this information in a post on her personal Facebook account 11:48 p.m. Wednesday.
She mentioned that the highest investments were in the development of new economic zones worth P67 billion.
Investment approvals in the manufacturing sector remain strong with pledges amounting to P18.5 billion, followed by electricity, gas, and steam with P14.9 billion; information techno-logy with P7.1 billion; transport and storage with P71 million; and water supply with P10 million.
Plaza said identifying potential locations for new economic zones has driven growth in investment pledges in PEZA.
“PEZA will soon come up with a Philippine Eco-nomic Zones Map putting all the existing and new economic zones identified by the LGUs (local govern-ment units), the private landowners, and the busi-ness chambers,” she noted.
“The most important is the ‘Duterte factor’, where investors trust and feel confident about President Duterte’s sincerity and dedication in providing a clean and good govern-ment. Safety and peace are felt by investors, thus, wanting to support the President’s programs and the country’s progress,” the PEZA chief added. Kris M. Crismundo/PNA