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Investment pledges at ecozones climb 180%

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The Philippine Economic Zone Authority said it approved P111.2 billion worth of investments from Jan 1. to Sept. 7, 2023,

“We are on track on not just realizing our target for the year, which is 10-percent increase in investments and where we expect also the Philippines to achieve a 6 percent to 7 percent GDP growth rate,” said PEZA director-general Tereso Panga.

PEZA said investments in August reached P14 billion, up by 65 percent from P8.48 billion in the same month last year. Japan led the list of countries with the highest investments, accounting for 27.334 percent, the US with 14.82 percent, the Netherlands with 11.68 percent and the UK with 6.84 percent. Local investors contributed 23.19 percent.

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