MANILA, Philippines — The Philippine Economic Zone Authority (PEZA) has approved three projects with combined investments of P98.43 million in renewable energy, manufacturing and information technology (IT).
PEZA director general Tereso Panga signed the registration of the three new ecozone enterprises last Nov. 14, the investment promotion agency said.
Among the approved projects is the P61.06-million project of Tsuneishi Green Energy that is expected to support renewable energy development in the country.
Through its roof-mounted solar facility at West Cebu Industrial Park in Balamban, Cebu, the company will generate clean, sustainable power for the industrial zone.
Tsuneishi’s solar facility supports PEZA’s push for green practices in ecozones.
Also approved was Wenshan Electronics Philippines Corp.’s P13-million project for the manufacture of high-tech chip power inductors at the Light Industry and Science Park II in Santo Tomas, Batangas.
Wenshan’s investment is expected to help strengthen the Philippines’ competitive position in electronics manufacturing, as well enhance its capacity to support high-value production for the global market.
The third project approved by the PEZA is Tractebel Red Inc.’s P24.37-million project for the delivery of export knowledge and computer-enabled services in Makati City.
The investment is expected to generate jobs and promote innovation in the tech sector.
The PEZA said Tractebel Red’s registration also reflects the growing interest of British firms in the Philippines.
Panga said the PEZA is committed to creating an enabling environment for investments that drive economic growth, as well as promote sustainability and innovation.
“These registrations represent PEZA’s ongoing commitment to making the Philippines a competitive and sustainable investment destination,” he said.