EXCERPT

Investments approved by the Philippine Economic Zone Authority (PEZA) fell 68 percent in the first quarter from a year ago with investor sentiment still affected by the ongoing pandemic, as well as the upcoming change in leadership.

In a press conference, PEZA director general Charito Plaza said the agency approved P8.14 billion worth of investments from January to March, down from P25.38 billion in the same period last year.

The approved investments for the first quarter this year are for 29 new and expansion projects.

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