The Philippine Economic Zone Authority (PEZA) announced the establishment of 27 new economic zones over the past two years, attracting a combined investment of P9.17 billion. PEZA Director General Tereso Panga highlighted the significance of these investments in driving economic growth and noted PEZA's strong financial performance, contributing P1.364 billion in dividends to the national treasury. The new ecozones encompass various sectors like information technology, electronics, and manufacturing, with prominent brands and domestic investors participating. Panga emphasized the crucial role of ecozones in sustaining economic growth and encouraged more local government units to embrace their development.
IN the last two years, the government established 27 new economic zones with combined investments worth P9.17 billion, the Philippine Economic Zone Authority said in a statement on Tuesday.In 2023 alone, 11 ecozones collectively worth P3.5 billion were opened. This year, 16 were added, valued at P5.63 billion. PEZA Director General Tereso Panga said the investments from both years are a significant contribution to the country's economic growth .
Domestic investors SteelAsia, Elmer Francisco Motor Corp. and Tarlac Terra Ventures Inc. are also among the investors in the ecozones.Panga said these new ecozones are crucial to sustaining economic growth, especially if more local government units embrace ecozone development.He cited a recent report by the Philippine Statistics Authority which showed a direct correlation between ecozones and higher economic value.
Economic Zones Investments Philippines PEZA Economic Growth Manufacturing Technology
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