Ecozone pledges 68% higher as of end-May — PEZA

FIRMS have pledged roughly two-thirds more investments to the Philippine Economic Zone Authority (PEZA) as of end-May versus year-ago levels, data released yesterday showed.

Planned investments in economic zones amounted to P46.349 billion in the first five months, up 67.8% from the same period last year but slower than the 111% increase recorded as of April.

The five-month investment figure is expected to produce $2.106 billion worth of exports, up 84.15% from yearago levels. It is also expected to generate 30,113 jobs or 11.71% more than January to May last year.

By yearend, the PEZA is hoping both employment and export levels will grow by at least 10% from 2009. Investment pledges are also targeted to grow by 15% to P201.670 billion.

The five-month figure so far accounts for roughly a fifth of the total target. — J. A. D. Hermosa