Zone pledges double but IT projects falter

by Malaya, Oct 10, 2017

Investments registered with the Philippine Economic Zone Authority (PEZA) rose 94 percent in the first nine months of the year pushed largely by investments in ecozone development and manufacturing.

Total investments stood at P196 billion from P101 billion in the first nine months of the year.

Although the number of projects is lower at 438 compared with 447 last year, these projects would result in employment of 73,553.

Investments, however, in information technology continue to be sluggish, dropping 8 percent to P11 billion from P14 billion in 2016. There were fewer IT projects, 153 from 167 last year.

These projects would generate IT jobs for 49,068 individuals.

Ecozone took the chunk of committed investments at P123 billion while manufacturing accounted for P45 billion.

As of July, exports of locators in ecozones stood at $29 billion, 11 percent higher than the $26 billion exported a year ago.

Exports in IT were almost flat at $6.2 billion from $6.16 billion.

PEZA also recently approved four medical tourism zones, including the P2.4-billion facility of Century Properties Inc. in Makati City.

Top investors for the year include First Pangasinan Property Development. Achievement Realty Corp., Tubalan Cove Business, Ayala Land Inc. and Megaworld Corp., ecozone development; Sarangani Energy Corp. as a utilities company; Epson Precision (Philippines) Inc. and STMicroelectronics Inc. and STMicroelectronics Inc, electronics; B/E Aerospace BV (Philippine) branch, manufacturing and; Central Block Developers Inc., facilities enterprise.