THE Philippine Economic Zone Authority (PEZA) reported on Thursday that 22 new and expansion projects were approved in May, bringing the total this year to 95, valued at P36.8 billion.
THE Philippine Economic Zone Authority reported on Thursday that 22 new and expansion projects were approved in May, bringing the total this year to 95, valued at P36.8 billion.Projected exports are expected to top $1 billion and about 19,000 jobs are projected to be created.The latest investment count, however, is lower by 23.3 percent from the P48.02 billion approved in January to May last year.In May alone, the PEZA Board approved 22 new and expansion projects, expected to bring in P6.
9-billion investment for the manufacturing of semiconductor devices and other electronic components.The value of investments for May, however, fell by 53.9 percent from P14.9 billion a year earlier.Despite this, PEZA Director General Tereso Panga said they remained optimistic that 'the Philippine economy is still poised for substantial growth in the coming years.
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