The Philippine Economic Zone Authority (Peza) said the amount of investments it approved in January to July jumped by more than fourfold from last year’s level.
Peza said its approvals during the 7-month period surged by 332.05 percent to P97.16 billion from P22.49 billion recorded a year ago.
In a statement on Monday, Peza said it approved on July 31 P16.578 billion in investments for 15 new and expansion projects.
According to the investment promotion agency, the investment approvals for the month of July alone are expected to generate $419.5 million in export receipts and create 2,983 jobs.
Peza said the investment approvals during the period came from 117 new and expansion projects which would generate a total of 18,407 jobs and $2.208 billion in export receipts.
Meanwhile, Peza Director General Tereso O. Panga reported that President Ferdinand R. Marcos Jr. had proclaimed three new economic zones.
On July 25, Peza said the Office of the President released Proclamation Nos. 299, 300, and 303 which approved the creation of three economic zones in Naga City, Bacolod City, and Dumaguete City.
According to Peza, Proclamation No. 299 designated several parcels of land in Barangay Carolina, Naga City to be known as Naga City Industrial Park while Proclamation Nos. 300 and 303 designated buildings as IT Centers in Barangay Mandalangan, Bacolod City to be known as Lopue’s Mandalangan IT Center and in Barangay Piapi, Dumaguete City to be known as Marina Town Dumaguete.
These three new economic zones are expected to bring in about P750.38 million in investments, according to PEZA.
Last April,the president approved two new economic zones in Batangas Province and Bacolod City. These, Peza said, are expected to bring in about P1.641 billion worth of investments.
“We remain on track with our goal of establishing at least 30 ecozones every year that create centers of economic progress outside the National Capital Region to spur countryside development,” Panga said.
To date, there are six ecozones pending for proclamation by the president, according to Peza.
These economic zones will be developed in Parañaque City which is going to be an IT Center,; in Pasig City which will also be an IT Center; Tanza, Cavite and Ilocos Sur which are expected to be manufacturing sites and in Sarangani Province which will focus on agro-industrial.
“We remain committed in our overarching goal of spurring countryside development through the creation of more ecozones seen to facilitate growth and development of our regions and attract new and strategic investments in the country,” Panga said.