EXCERPT

Comparing the data from the Philippine Statistics Authority (PSA), investment approvals of PEZA in the first quarter this year plummeted by 67.9 percent from PHP25.38 billion project registrations in the same period in 2021.

In a press conference Thursday, PEZA director general Charito Plaza said the decline in registration of investment activities in economic zones is anticipated given the ongoing pandemic, the Russia-Ukraine war, and the upcoming national elections.

“Usually during the election period, the investors would wait for what is going to be the result of the election because they already anticipated that there will surely be new policies and laws and rules that will be adopted by the new administration,” Plaza said.

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