PEZA Director General Tereso O. Panga reported that the investment pledges in May brought the agency’s first five-month project approvals to P48.027 billion, or 153.74 percent higher compared to the P18.928 billion in the same period in 2022.
The biggest project pre-qualified by the PEZA Board for approval by the Fiscal Incentives Review Board is engaged in the manufacturing of solar wafer cells with Maxeon 7 technology to be located in Sto. Tomas, Batangas, with investments worth P11.633 billion. PEZA did not reveal the corporate identity of this project.
Adapting a whole-of-government approach, PEZA is constantly partnering with government agencies and various industry associations to address the pain points that hinder investors to unlock the untapped potentials of the Philippines. To further these efforts, PEZA is also engaging with some of its growth champions in government, partner investment promotion agencies, and foreign chambers in strengthening the ecozone development program to be able to attract strategic and big-ticket investments in the country.