THE Philippine Economic Zone Authority (PEZA) is aiming to approve more than P100 billion in investment pledges by the end of the year, led by a potential investor relocating from China.
“We might exceed more than P100 billion this year, with all these positive responses of our present investors and incoming investors,” PEZA Director General Charito B. Plaza in a press conference on Monday.
For the first 10 months of 2020, the agency reported P72.6 billion in new investment pledges, falling by more than a quarter from a year earlier.
The PEZA board approved another P14.6 billion worth of new investments during its board meeting earlier this month.
However, even if PEZA reaches P100 billion in new investment pledges, this would still be around 15% lower than P117.54 billion in investments … Read the rest