www.republika-online.com

Loading...

PEZA raises target for stake approvals

Republika

Supported by strong investment interests from foreign sources, the Philippine Economic Zone Authority (PEZA) is eyeing to raise its target for investment approvals by seven percent this year.


The investment promotion agency aims P6 billion more investment approvals this year from last year’s approval of P95.03 billion, PEZA deputy director general Tereso Panga said


“We have a strong basis for this projection because of the increasing FDI (foreign direct investments),” Panga said.


He also cited the report of the United Nations Conference on Trade and Development in 2020 that FDIs in the Philippines rose by 29 percent despite the pandemic, while the trend in other Southeast Asian countries is the opposite.


Panga said the ecozone investments increased by 21 percent last year.


“We are following the same trend for FDI. In the case of PEZA, the sources for this come from ICT (information and communications technology), manufacturing, and real estate,” he added.


Same Category

Business

International academic experts support vape bill in the Philippines

Republika
Business

Industry group says vape bill will save lives, safeguard jobs and investment

Republika
Business

Vape bill encourages Filipino smokers to quit or switch to less harmful options

Republika
Business

Vape Bill expected to reduce 100,000 smoking related deaths each year, according to doctors

Republika