Investments in ecozones up 101%

The government has approved an P800-million project for the construction of information technology (IT) buildings and facilities at the Fort Bonifacio-Silicon Alley IT Park-Special Economic Zone, granting incentives ranging from tax breaks to duty-free importation of capital equipment.

The approval of the project brought the investments in the country’s special economic zones to P70 billion from January to mid-November, roughly 101 percent higher than year-ago levels.

Documents from the Philippine Export Zone Authority (PEZA) show that the project will be undertaken by 19-1 Realty Corp. (19-1RC) under contract with the Fort Bonifacio Development Corp. (FBDC).

PEZA said 19-1RC will construct initially a 20-storey IT building to be named Net 1 Center. The facility will be located in the so-called Silicon Alley, the IT park within Global City where locators are entitled to various incentives.

The company is owned by Jacques Dupasquier and his partner, Macario Rufino both veteran real estate developers. Dupasquier is involved in other real-estate companies such as Apex Home Developers, Metropolis Development Corp., Pryce Corp. and Pilar Development Corp. Rufino, on the other hand, is president of such companies as Sunvar Inc., Cosmopolitan Corp., Corinthian Gardens and Makati Cinema Square.

PEZA said the project is scheduled for completion by March 2001 and is expected to generate P323.918 million in revenues during the first five years of operation.

With the approval of the 19-1RC project, investments in the country’s special economic zones went up to P70.995 billion, up by 101 percent over the P35.208 billion registered from January to the middle of November, 2000.

PEZA also approved a P139.509-million project for the manufacture and assembly of digital cameras for export to Japan, Singapore, US, Canada and Europe. Project proponent is Asahi Optical Philippines Corp.

Also approved is a P58.548-million project for the manufacture of various automotive parts such as shaft, metal press die and mold motor assembly by Miumi Technology Corp.

PEZA also approved projects by Semichen Manufacturing Corp., Rohm Mechatech Philippines and KY Polymer Corp. — Des Ferriols