The Philippine Economic Zone Authority (Peza) saw its registration of investment pledges increase by nearly 54 percent in the first quarter of the year to more than P25.3 billion, compared to year-ago level.
In a statement on Wednesday, Peza said investment commitments in the first three months last year reached only about P16 billion, down 27 percent from the level in the same period in 2019, mainly due to the disruptions caused by the Taal Volcano eruption in January and the COVID-19 outbreak.
The latest figures suggest that investor interest remained even after the passage of the CREATE law, or the Corporate Recovery and Tax Incentives for Enterprises Act, which Peza had initial…
Keep on reading: Peza-registered investment pledges jumped by 54% in Q1