PHILIPPINE Economic Zone Authority (PEZA) investment approvals surged to P48.027 billion as of end-May, the agency reported on Monday, 153.7 percent higher year on year.

About a third of the amount, or P14.93 billion, was greenlit in May alone, and the PEZA claimed that it was on track to meeting a "conservative" 10-percent growth target for 2023.

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