PEZA Director General Tereso O. Panga noted that despite the fewer number of projects in April this year with only 16 versus 26 same month last year, the new projects were bigger in terms of project cost. With that, the April committed investments went up 162.37 percent to P20.566 billion from the P7.834 billion worth of investments approved in April 2022.
The biggest project pre-qualified by the PEZA Board for approval by the Fiscal and Incentives Review Board is engaged in the manufacturing of biomass fuel products made from Buyo-buyo , with investments worth P19.701 billion. In March alone, Panga said, “We have generated $5.396 billion export revenues which account for 82.65 percent of the total country's $6.528 billion exports in March this year.”
The PEZA chief noted, “We remain positive that more investments will come to the Philippines with the big-ticket investments that we secured during the President's visits to Japan, US, and Switzerland among others.”