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MANILA, Philippines – Approved investments under the Philippine Economic Zone Authority (Peza) jumped by more than twelvefold to P63.9 billion in April, buoyed by big-ticket projects that raised the agency’s hopes of meeting its P300-billion annual target despite a sluggish first quarter.
Data released by Peza on Friday showed that the April investment approvals, which covered 26 new projects, represented a 1,296.65-percent increase from the P4.76 billion recorded in the same month last year.
READ: Peza investments rise despite political noise
These investment pledges remained driven by manufacturing ventures, topping the mix with 12 new projects, and are expected to generate $1.7 billion in export revenues and create 7,621 direct jobs, the agency said.
