Connect with us

Hi, what are you looking for?

News

PEZA seeks creation of 13 economic zones

POLLOC FREEPORT AND ECOZONE — BARMM FACEBOOK PAGE

THE PHILIPPINE Economic Zone Authority (PEZA) is seeking Malacañang’s approval for the creation of 13 economic zones (ecozones), which are expected to generate nearly P18 billion worth of investments.

“As of October 2022, the PEZA currently has 13 pending ecozones that we look forward to be proclaimed by the current administration. One is already endorsed to the Office of President Ferdinand R. Marcos, Jr., while 12 are endorsed to the Department of Trade and Industry (DTI),” PEZA Officer-in-Charge Tereso O. Panga was quoted as saying in a statement on his Nov. 9 meeting with the Philippine Ecozones Associations (PHILEA).

Mr. Panga said the 13 pending ecozones are expected to bring in investments amounting to P17.92 billion. These proposed ecozones are all located outside of Metro Manila.

“In 2022, there will be an upturn as we have been getting big-ticket projects enough to recover and even surpass our 2019 [investment] levels,” Mr. Panga said. 

He said the Light Industry and Science Park, located in Sto. Tomas, Batangas, secured a deal for a data center with P3.4 billion in investments last month.

Mr. Panga added that another big-ticket investment is currently being discussed with Suntrust EcoTown Tanza in Cavite.

Meanwhile, Mr. Panga said the PEZA’s investment growth target for 2022 is achievable following “aggressive investment promotions.” 

“The 6-7% PEZA target for 2022 is attainable and we must also continuously work with other agencies to promote the creation of more ecozones, particularly in the countryside and new growth areas,” he said.

In October, PEZA said it approved P17.14 billion worth of investments in the third quarter, lower by 10.46% compared with P19.145 billion posted in the same period last year. — RMDO

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

News

REUTERS TOKYO — Japan’s economy, the world’s third-largest, shrank less than initially estimated in the third quarter, bolstering a view that it is slowly...

News

PIERRE BORTHIRY/UNSPLASH WASHINGTON — US Securities and Exchange Commission (SEC) Chair Gary Gensler said that companies that help facilitate transactions in the cryptocurrency market...

News

Twitter owner and Tesla boss Elon Musk briefly lost his title as the world’s richest person on Wednesday, according to Forbes, following a steep...

News

Twitter owner and Tesla boss Elon Musk briefly lost his title as the world’s richest person on Wednesday, according to Forbes, following a steep...

News

DRAHOMÍR POSTEBY-MACH -PIXABAY BERLIN — The founder of Russia’s only LGBTQ+ museum said he was forced to close its doors on Wednesday after President...

News

Philippine lawmakers are looking to tap central bank profits to seed a proposed sovereign wealth fund, after an earlier plan to use pension funds...

You May Also Like

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.