MORE INVESTMENTS are expected to enter the country after the May election as investors await the new administration, according to the top Philippine Economic Zone Authority (PEZA) official.
The Philippines is holding its national elections on May 9. Investors typically seek more clarity on the possible policies by the incoming President before making any investment decisions. PEZA is now targeting a 7-8% growth in investment approvals for 2022, higher than its previous target of 6%. The Philippine Economic Zone Authority (PEZA) approved a total of P69.30 billion worth of investments in 2021. The agency’s export income for 2021 rose by 14% to $63.061 billion from $55.309 billion in 2020. However, combined PEZA and BoI investment pledges fell by 90% to P12.82 billion in the first two months of 2022.
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