00:00PESA believes that the Philippines will be able to use the SHAM up to 10% of the investment this year.
00:07It is proven that almost P53 billion of investment approval is seen in the continuous expansion of the country's economy.
00:14We are joined by Allan Francisco with the national news.
00:19The Philippine Economic Zone Authority, or PESA, is on the right track in implementing the SHAM target of up to 10% of the investments this year.
00:30They recorded more than P52 billion, following their board meeting in February 2020-25.
00:38According to PESA Director General Terezo Panga,
00:41this is the result of the agency's support to major sectors such as new technologies and the pharmaceutical industry,
00:48which are playing a key role in the regions and the country.
00:52Trade Secretary and PESA Board Chairman Cristina Roque also emphasized the effect of the CREATE MORE Act,
00:58which is a game-changer in the rise of foreign investment due to the longer and more profitable incentives.
01:07From January to February 2025, PESA recorded more than 300% increase in approved investments
01:15because more than P50 billion was used compared to P12 billion at the same time in 2024.
01:24Because of this, almost 40 new projects and expansions were approved,
01:30and more than 11,000 new direct jobs for Filipinos are expected to be created.
01:36A large portion of these investments came from domestic market enterprises.
01:41PESA also approved two large projects that can generate more than P15 billion.
01:49This is in support of President Ferdinand R. Marcos, Jr.'s vision to raise the country as an upper-middle-income economy.
01:57This includes an eco-zone development project from a South Korean company
02:02that will strengthen various sectors such as manufacturing, tourism, and information technology.
02:09More investments are also expected after the implementation of the rules and regulations of the CREATE MORE Act.
02:18According to Secretary Frederick Goh, Special Assistant to the President for Investment and Economic Affairs,
02:24the CREATE MORE Act aims to generate more investments and create jobs for Filipinos.
02:30PESA also agreed to continue to implement its vision to strengthen the position of the Philippines
02:36as the primary destination of investments in the region.
02:40From PTV Manila, Alan Francisco, Balitang Pambansa.
