P124-billion investment projects from January-October 18 get Peza OK

HE Philippine Economic Zone Authority said it is on track to reach its P200-billion investment goal for the year as it approved P123.72 billion in investments from January to October 18, 2024 on the back of “sustained” confidence in the country’s economic zones.

These projects, Peza noted, are expected to generate $3.08 billion in export revenues and 40,733 direct jobs. These projects involve fabricated metal products, computer programming, commercial printing, electronic products, semiconductor devices, warehousing, transportation support activities, office support, and rubber and plastic products.

“Land development began in January 2024 and is expected to be completed by December 2026, creating seven direct jobs during operations and 59 indirect jobs during land development,” PEZA added. Moreover, Peza said it will host the drug export manufacturing facility of Lloyd laboratories in partnership with an American pharma company.

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