Daily News

Ecozone investments to shrink this year

The Philippine Economic Zone Authority (PEZA) expects new investment pledges to slump this year, as the coronavirus pandemic weighs heavily on the global economy. At the same time, many export companies are struggling to maintain operations and employment even as lockdown restrictions ease due to the limits on public transportation. PEZA Director General Charito Plaza said she is expecting “a total 50% of last year’s investments plus 10%-15% growth.” PEZA’s approved investment pledges for 2019 stood at P117.5 billion, a 16% decline from the year earlier.