CDC president Rogelio Singson said yesterday that the CSEZ has registered a "significant increase in exports posting nearly P17.5 billion in the third quarter of this year, or nearly 50 percent increase over 1999 figures covering the same period."
"Total exports from January to September this year exceeded last year’s P11.7 billion by 49 percent," he noted.
Singson attributed the export performance largely to electronic and garment firms. He described as "phenomenal" the 87 percent growth in electronics exports of Clark firms, from a mere P5.9 billion recorded from January to September last year to more than P11 billion over the same period this year.
Electronics made up 63 percent of the CSEZ’s total exports, the bulk of which was from Sampo Technology Philippines.
The operations of Sampo, which has its mother plant in Taiwan, accounted for P8.6 billion or almost 50 percent of the total exports for the first three quarters of the year. Sampo manufacturers some 80,000 color computer monitors each month.
Singson said that the garments sector provided the second largest share in exports, comprising about 27 percent of the export volume, led by Luen Thai Philippines Group (L&T), a pioneer locator at the CSEZ.
The L&T registered nearly P1.8 billion in exports or 11 percent of the year’s total through three quarters. The L&T more than 2,800 workers manufacture popular lines of signature apparel such as Polo Ralph Lauren and Tommy Hillfiger.
The CSEZ’s 269 locator firms are expected to put in P72.6 billion in investments within the next five years and at least P11.62 billion this year.
CDC records show that out of the 269 firms in the 4,400-hectare CSEZ, 114 are involved in industrial projects, 61 in commercial projects, 58 in service-oriented projects, 13 in aviation-related projects, 11 in utilities, nine in tourism, and three in housing.
These investors now employs 21,000 workers. Projections based on committed investments place the number of workers in the CSEZ to reach 65,926 in the next five years.
Meanwhile, PentaCapital, Corp. is expected to take over control of the controversial 215-hectare Mimosa Leisure estate here by December.
PentaCapital is taking over the estate from the CDC which assumed control of Mimosa from Mondragon Leisure and Resorts Corp. (MLRC) in December last year, after the latter failed to pay its P325-million rental dues over the estate to the CDC.
MLRC chairman and former Tourism Secretary Jose Antonio Gonzalez has claimed that CDC’s takeover was ordered by President Estrada himself, with the support of his alleged cronies.
Gonzalez said that the CDC’s deal with PentaCapital is grossly disadvantageous to the government, as the firm has committed to the CDC to assume only the P325-million debt of the MLRC.
Gonzalez said that the MLRC earlier committed to the CDC revenues amounting to P1.7 billion over a 10-year period.