THE Philippine Economic Zone Authority (PEZA) said that their investment approvals in the first two months of the year had increased by 18.66 percent to P12.10 billion from P10.19 billion in the same period in 2023.

According to PEZA, such projects came from 28 new and expansion projects which is expected to contribute USD661.1 million in exports revenues.

It is also expected to create an additional 3,850 jobs.

“The significant upswing in our investment performance within two months underscores our commitment to achieving our target of PHP250 billion investments for this year,” PEZA Director General Tereso Panga said.

PEZA said that for February the Board has approved a total of 16 projects including nine ecozone enterprises, three IT enterprises, one domestic market, two ecozone logistics services, and one ecozone developer.

Meanwhile, the investments of the 16 projects carries a total value of P9.88 billion.

Meanwhile, the projects that were given for the month of February are expected to add USD591.48 million in exports and generate 2,243 direct jobs once operational.