Latest news with #PEZA
GMA Network
6 days ago
- Business
- GMA Network
Approved commitments hit P90.96B in Jan-July 2025, up 100% —PEZA
The Philippine Economic Zone Authority (PEZA) saw a big increase in the value of investment commitments approved in the first seven months of 2025 compared to the same period last year. In a statement on Saturday, PEZA said it approved P90.96 billion worth of pledged new and expansion projects from January to July 2025, up 100% from P45.48 billion worth of green-lit investment commitments year-on-year. The investment promotion agency said 150 newly approved and expanding projects saw a 25% increase from the 120 projects approved during the same period in 2024, 'highlighting strong investor confidence and sustained trust in the Philippines as a premier investment hub.' The approved investments are expected to create 35,874 direct Filipino jobs, up 42.02% from the 25,259 jobs seen in the same period in 2024. The PEZA is also projecting a 24.37% growth in exports, reaching $2.003 billion. 'This 100% surge in investment approvals in just seven months is a resounding vote of confidence in the Philippines as a competitive, resilient, and innovation-ready investment destination,' said PEZA Director General Tereso Panga. 'Investors are scaling up in our ecozones because they recognize our stable policies, world-class talent, and our whole-of-government commitment to building smarter, greener, and more inclusive growth centers across the country,' he added. For July alone, the PEZA said it approved 17 high-impact new and expansion projects that are poised to inject P18.6 billion in investments, generate an estimated $744.06 million in annual export revenues once fully operational, and create 2,891 direct jobs for Filipino workers. The approved projects this month span a range of industries, including 11 in export manufacturing, three in facilities development, two in IT-BPM, and one in domestic-market-oriented manufacturing. The projects are 'strategically located' across Metro Manila, CALABARZON, Central Luzon, and Central Visayas. Meanwhile, the PEZA said it remains optimistic as the Philippines continues high-level negotiations to compensate for the newly adjusted 19% US-imposed tariff on Philippine exports. The agency said the Philippines has one of the lowest US tariff rates in Southeast Asia, as government and industry leaders are hopeful about the renewal of the US Generalized System of Preferences (GSP) and the start of free trade agreement (FTA) negotiations with the US. — VBL, GMA Integrated News
GMA Network
02-07-2025
- Business
- GMA Network
PEZA books P72-B investment pledges in H1 2025
The Philippine Economic Zone Authority (PEZA) has approved over P72 billion worth of investment commitments in the first half of 2025. In a statement on Wednesday, PEZA said it booked P72.362 billion in investment pledges from January to June 2025, up 59.1% from P45.481 billion recorded in the first semester of 2024. The investment promotion agency attributed the growth in approved investment commitments to its 'proactive stance' in facilitating ease of doing business and improving investor confidence as it aligns its strategies with the Marcos administration's socio-economic goals. 'This continued surge in investments affirms PEZA's role as a vital engine for economic growth and job creation for the country,' said PEZA Director General Tereso Panga. 'We are reaping the fruits of our aggressive promotion efforts, investor-centric reforms, and continued commitment to making the Philippines a competitive and resilient hub for global industries. The confidence shown by both new and existing investors is a strong signal that our ecozones are thriving and open for business,' Panga added. PEZA said it approved 133 projects during the January to June 2025 period, up 10.83% from 120 projects approved in the same period of 2024. The agency said the approved projects are seen to generate 32,983 direct jobs for Filipinos, up 30.58% from the 25,259 job generation projection in the first half of 2024. PEZA said South Koreans were the biggest investors in the first half of the year, followed by Americans, Chinese, Dutch, and Japanese. In terms of sectoral investments, manufacturing of food and beverage products topped the list, followed by ecozone development and IT-BPM. — VBL, GMA Integrated News
Coin Geek
20-06-2025
- Business
- Coin Geek
President Marcos Jr. approves 4 ecozones for H1 2025
Getting your Trinity Audio player ready... Pasay City — Strengthening its vision of eco-zoning the Philippines towards inclusive and sustainable development, the Philippine Economic Zone Authority (PEZA) continues to spur countryside development through the creation of more ecozones, seen to facilitate the growth and development of our regions and attract new and strategic investments in the country. PEZA Director General Tereso O. Panga said, 'As a medium-term strategy under the Philippine Development Plan, the ecozones will play a vital role in attracting the much-needed investments in the country, generating more jobs for Filipinos, and contributing in accelerating the nation's socio-economic progress.' For the first half of the year, President Ferdinand R. Marcos Jr. approved four (4) ecozones—two (2) expansions of a manufacturing zone in Batangas, and two (2) new IT Parks in Tagbilaran City and Bacolod City. Aboitiz-led Lima Technology Center Expansions President Ferdinand R. Marcos Jr. approved the expansion of Lima Technology Center in Batangas and the creation of a new IT Park in Bacolod City. On 21 May 2025, Proclamation No. 910 was issued by the Office of the President, designating 23.49 hectares of land located in Barangays Bagong Pook and Luta Sur, Malvar, Batangas to be included in the existing Lima Technology Center (LTC). More than PhP 980 million will be invested in the development of the area, which is expected to be completed by June 2027. Additionally, another expansion area for LTC was also approved by the Office of the President in March under Proclamation No. 846, adding 19.23 hectares to the ecozone. These expansions are expected to further amplify Aboitiz InfraCapital's contributions and better enable PEZA to execute its commitment to sustainable economic progress and national development. Megaworld's The Upper East IT Park Meanwhile, President Marcos Jr. signed Proclamation No. 919 last 02 June 2025 which creates and tagbilarandesignates 33.96 hectares of land in Barangay 41, Bacolod City as an IT Park to be called The Upper East. The IT Park, to be operated by Megaworld, is projected to attract over PhP 1 billion in investments for the construction of two IT buildings. Five (5) IT-BPO companies are expected to operate in the park, creating over 2,500 local jobs. The development of this IT park solidifies the position of Bacolod City as an emerging IT-BPM hub in the country and will further create opportunities for innovation and development. Tagbilaran Uptown IT Hub 2 Apart from these new ecozones, PEZA also formalized the proclamation of Tagbilaran Uptown IT Hub 2 as an IT Park in Bohol with the signing of its registration agreement on May 08. The President signed Proclamation No. 821 designating three parcels of land in Brgy. Dampas, Tagbilaran City with an area of about 11,237 sqm as an IT Park. Building on the success of the 1.4-hectare Tagbilaran Uptown IT Hub 1, the zone significantly boosted local economic activity and employment. With a projected investment of over PhP 200 million, the expansion aims to generate additional jobs and attract more IT-BPM locators. A prospective locator has already expressed interest in investing upwards of PhP 70 million and hiring over 500 Filipinos. PEZA Director General Tereso O. Panga and TURC President Albert M. Uy following the signing of the Registration Agreement for the Tagbilaran Uptown IT Hub 2 According to the latest report from the Philippine Statistics Authority (PSA), the majority of the top 10 local government units (LGUs) outside of Metro Manila—ranked by GDP contribution and foreign investment inflows—are home to economic zones (ecozones), highlighting their role as key drivers of regional economic growth. PEZA continues to engage with local governments and developers in advancing ecozone development in the country. With PEZA's pivotal role in facilitating the establishment of these zones, this further solidify the Philippines' position as a premier investment destination in the region. 'At PEZA, under my watch, we continue to engage with our partner developers like Aboitiz and Megaworld in creating more ecozones that attract investments and drive growth, prosperity, and innovation nationwide. Together, we strengthen our shared commitment to eco-zoning the Philippines toward inclusive and sustainable development— para sa Bagong Pilipinas! ' said DG Panga. Under the Marcos Jr. Administration, a total of 32 ecozones have been proclaimed, bringing in PhP 13.406 billion in committed investments. PEZA is also working to establish the Palawan Mega Ecozone—the first of its kind in the country—and the Pantao Ecozone, eyed as the fifth public ecozone, both targeted for proclamation within the current administration.
GMA Network
03-06-2025
- Business
- GMA Network
PEZA Board OKs creation of Palawan Mega Ecozone
The Philippine Economic Zone Authority (PEZA) Board has approved the creation of the Palawan Mega Ecozone (PMEZ), set to be biggest of its kind in the Philippines, with 28,000 hectares of idle land in the Iwahig Penal Colony of the Bureau of Correction (BuCor) planned for conversion into industrial estates. According to PEZA, the Board approved the creation of PMEZ during its meeting on May 21, affirming its contract with BuCor to transfer ownership of idle lands to PEZA for the creation of the ecozone. An initial 4,000 hectares has already been transferred to PEZA under Phase 1, with the pre-qualification for the declaration of a 4,000-hectare property located in Barangays Montible and Sta. Lucia, Puerto Princesa also approved for development. "The Palawan Mega Ecozone is envisioned to attract environmentally responsible industries such as agro-industrial processing, renewable energy, ecotourism, and marine biotechnology," PEZA Director General Tereso Panga said in a statement. "This will not only preserve Palawan's rich biodiversity but will also uplift the livelihood of local communities through jobs and infrastructure development," he added. Under the Special Economic Zone Act, ecozones are selected areas with highly developed areas or those which have the potential to be developed into agro-industrial, industrial tourist/recreational, commercial, banking, investment, and financial centers. Business establishments operating within ecozones are entitled to fiscal incentives as provided by the Ombinus Investment Code, and exempted from national and local taxes, except for real property taxes on land owned by developers. They are instead mandated to remit 5% of their gross income—with 3% going to the national government, and 2% to the treasurer's office of the city or municipality. PEZA said the PMEZ is seen to "revive" the Brunei Darussalam-Indonesia-Malaysia-Philippines East ASEAN Growth Area (BIMP-EAGA), and is an immediate response to instructions of the President to promote stronger ties among member states of the Association of East Asian Nations (ASEAN). It is expected to create over 480,000 direct jobs, employing individuals from local communities, persons deprived of liberty (PDLs), and the whole of the Western Visayas and Sulu Regions. Under its mandate, PEZA is tasked to promote the establishment of economic zones in the Philippines for foreign investments. The agency approved 102 new and expansion projects from January to May this year, equivalent to a total investment of P66.34 billion. These are expected to generate over $1 billion in export revenues, and approximately 29,000 direct Filipino jobs. South Korea was the top investing nationality, accounting for 16.12% of total approved investments, followed by the United States with 4.08%, China with 2.20%, Japan with 2.92%, and the Netherlands with 2.16%. In terms of industry, the largest share of approvals were in food and beverage with 43.74%, backed by ecozone development with 32.52%, and information technology-business process management (IT-BPM) with 7.59%. — VDV, GMA Integrated News
GMA Network
28-05-2025
- Business
- GMA Network
PEZA announces P1.39B dividend payout
The Philippine Economic Zone Authority (PEZA) announced Wednesday that it contributed P1.3 billion in dividends from its profits in 2024, noting its back-to-back billion-contribution to government coffers. 'As we turn 30, we are focused on future-proofing PEZA to ensure it remains a dynamic force for economic development and nation-building,' PEZA Director General Tereso O. Panga said in a statement. PEZA noted that it has already contributed P3.68 billion to the government since the start of President Ferdinand Marcos Jr's administration. The Department of Finance (DOF) earlier said the dividend remittances from the earnings of government-owned or -controlled corporations (GOCCs) have reached over P76 billion as of May 15, 2025. PEZA was also among the 13 state-owned firms that contributed at least P1 billion to state coffers. —Mariel Celine Serquiña/RF, GMA Integrated News
