The Philippine Economic Zone Authority (PEZA) said Monday it expects to end 2024 with P213.5 billion in investment pledges, a 21.5-percent increase from the previous year and the highest in the past seven years.
PEZA director-general Tereso Panga said in a news briefing the agency surpassed its year-end target of P200 billion by November, with total pledges amounting to P201.5 billion at that time—reflecting a 14.7-percent growth from the same period in 2023.
“We still have our final board meeting for the year, and we expect to add at least P12 billion more to the running total,” he said.
Panga said most pledged investments are in manufacturing, which he described as “real job generators” due to their shorter gestation periods compared to other sectors like renewable energy.
“These are mostly manufacturing projects, which generate jobs faster. What’s encouraging is the nearly even split between foreign and local investments, showing increased investor confidence,” Panga said.
Manufacturing accounted for 32 percent of the total investments, with the information technology (IT) sector contributing another 12 percent to 15 percent.
All key performance indicators—investments, projects, exports and employment—showed positive growth in 2024. The number of locator projects increased, signifying sustained interest in the country’s economic zones.
Panga said that in October 2024, the investment figures were below target, but a surge in November helped the agency reach its goal, ensuring positive annual performance.
The P213.5 billion in 2024 investments represent a significant progress toward PEZA’s plan to top the record P311.9 billion set in 2018.
“As soon as we surpass the P311.9-billion mark, we’ll be positioned as a serious contender for foreign direct investment [FDI] attraction,” Panga said adding that the Department of Trade and Industry (DTI) aims to make the Philippines the second-largest FDI destination in ASEAN by 2028.
PEZA is aligning with the DTI’s roadmaps to promote priority industries such as electronics, assembly, testing and packaging—sectors that Panga described as the “bread and butter” of Philippine economic zones.
Emerging opportunities include integrated circuit (IC) design, electronic manufacturing services (EMS) and electric vehicles (EV), he said.
