PEZA’s Jan-July investments up 30.77%

A combination of approved export enterprises and IT companies boosted the period’s investments

 INVESTMENTS UP. Investments registered with the Philippine Economic Zone Authority increased by 30.77% in January to July 2014. File photo by Agence France-Presse

MANILA, Philippines - Growth of investments registered with the Philippine Economic Zone Authority (PEZA) rose to 30.77% in the first 7 months of the year from the 27% growth posted as of the first half.

PEZA investments rose to P127.46 billion ($2.91 billion*) from P97.47 billion ($2.23 billion) in the same period in 2013, PEZA director-general Lilia de Lima told members of the Chamber of Real Estate and Builders Association (CREBA) on Thursday, July 31.

"We want to hold on to this until the end of the year," De Lima said.

In July alone, PEZA approved new export enterprises: a Swedish; a Dutch; a Chinese; 3 Japanese companies; a Korean; a Taiwanese; and 4 Filipino firms.

De Lima said the agency also approved 12 new Information Technology (IT) companies were also approved: a Dutch; an Australian; 6 American companies; 2 British firms; a Singaporean; and a Filipino company.

PEZA’s achievements were mentioned in the 5^th State of the Nation Address (SONA) of President Benigno Aquino III, where he thanked De Lima for her efforts and the agency’s achievements.

Of the P2.7 trillion ($61.66 billion) investments since its inception in 1995, 42% or P1 trillion ($22.84 billion) of PEZA’s investments came in during his 4-year term, Aquino said.

“The remaining 58% took 15 years for past administrations to accumulate. We are confident that, before we step down from office, we will be able to match or even surpass this amount,” Aquino said. – Rappler.com

*($1 = P43.79)