“Despite the 29.85-percent decline in the first semester of the year 2022 compared to the first semester of 2021, we never lost hope that we would recover. With the big-ticket investments that were prequalified by the board for endorsement to the [Fiscal Incentives Review Board], we were able to record a positive increase in investments in 2022,” said acting PEZA director-general Tereso Panga.Actual employment and exports at economic zones under PEZA reached 1,850,842 direct jobs and about $54.
PEZA said the investments commitment came mostly from Japan, Singapore, the Netherlands, the United Kingdom, the United States, India, South Korea, China, the British Virgin Islands and Taiwan. “What is important is we keep building and sustaining the confidence of investors and the country’s competitiveness in investment promotions and facilitations. Indeed, the economic and political climate are improving under the PBBM administration and we hope to sustain very good performance as we prepare for the upturn in the economy and our transition to upper-middle income status,” he said.
“We cannot register productivity-enhancing investments if we do not have the ecosystems to provide our investors so that they can be viable with their operations in the Philippines. At this time of crisis, ecozones can be shields to soften the landing of the headwinds, the external headwinds and all these global disruptions happening. The other side to this is that ecozones can be economic drivers.
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