Peza aims to hit P100B in investments this year

·2 min read

THE Philippine Economic Zone Authority (Peza) said it is targeting a three-digit figure in investments in 2021 but clarified it is not making any promises with the uncertainty caused by Covid-19.

In a press release, Peza Director Charito Plaza said it is best to focus on the overall performance of the agency and not just making projections, forecasts or targets especially during a challenging time brought by the Covid-19 pandemic.

“Best aggressive Peza target is to attain three digits, more than a hundred billion against last year’s P95 billion, but we don’t want to be promising high figures. Instead, we must work hard and build support and partnerships from public and private stakeholders to bring in new investors, keep existing investors and for them to expand, not transfer,” she said.

In 2019, Peza registered 540 new and expansion projects that were expected to bring in P117.5 billion in investments.

In 2020, it recorded only a total of P95 billion in investments with 326 projects registered.

Foreign investments were up in 2020 by 21.26 percent to P59.73 billion from 2019’s P49.26 billion.

In terms of sector, the manufacturing industry has generated a total of P34.44 billion in investments, which is 13.43 percent up from the sector’s P30.35 billion in investments in 2019.

The information technology-business process management (IT-BPM) industry, on the other hand, is seen to bring in P17.41 billion in investments. This is 0.93 percent lower than the P17.58 billion in investments recorded in 2019.

Likewise, Pleza has implemented what it calls “balancing acts” to assist and support its locator companies continuing operations during this time while taking care of the health and safety of the Filipino workforce.

From Jan. 4 to 8, 2021, Peza said about 2,608 registered companies have continued operating with 1,116,830 employees working under various work arrangements.

Meanwhile, the IT-BPM and manufacturing sectors are operating at 84 percent and 88 percent, respectively.

“Peza’s performances are realistic and not based on promises and projections especially that we’re in this pandemic period,” she said. (JOB with PR)