PEZA is expected to increase investment by 200% to 300% this year

Philippine Economic Zone Authority (PEZA) said that in 2017, PEZA registered business investment will grow two to three times. In the first quarter of this year, new investments increased by 51%.

"We expect new investments to grow by 200% to 300% this year, because we have grown by 51% in the first quarter of this year alone," Ms. Charito Plaza, the director general of PEZA said.

She said that the first three months of this year, approved by the PEZA semiconductor and electronic products investment reached 7.64 billion pesos, compared with 4.125 billion pesos last year, which increased by 85.19%.

As of March this year, PEZA business enterprises reached 3985 while electronic and semiconductor enterprises reached 469, accounting for 11.8%. As a result of the opening of the new economic zone and the inflow of the new investment, she was optimistic about the performance of this year.

Ms. Plaza said, "Foreign investors from the Middle East, the United States and Japan, one after another, are now coming in." Investors in these countries have begun to look at various economic zones of the Philippines and start registering businesses in PEZA.