Ecozone foreign investments went up by P59.73 billion from P49.26 billion in 2019, PEZA records showed

The Philippines is already on its way to recovery, having passed the “survival mode” amid the Covid-19 pandemic, an official of the Philippine Economic Zone Authority (PEZA) said Tuesday, 26 October.

PEZA is the government’s lead agency in promoting investments in the country’s various economic zones.

The UNCTAD World Investment Report 2020 cited the Philippines for its 29 percent increase in FDI inflows at the height of the pandemic against the contraction by as big as 31 percent experienced by other Southeast Asian economies.

Ecozone foreign investments went up by P59.73 billion ($1.19 billion) from P49.26 billion ($0.98 million) in 2019, PEZA records showed.

Further, foreign investments under PEZA alone accounted for at least 18 percent of the country’s total FDI inflows of $6.5 billion in 2020.

Source: Daily Tribune 27 October 2021

https://tribune.net.ph/index.php/2021/10/27/peza-sees-phl-recovery/