PEZA reports 8% rise in Jan-Oct investments

Investments in the country’s special economic zone continue to rise despite foreign and local investors’ rising political concerns, the Philippine Export Zone Authority (PEZA) reported yesterday.

Based on PEZA report, total investments that came in from January to October this year went up by nearly eight percent to P22.298 billion from P20.679 billion in the same period last year.

For October alone, total investment inflows rose by a strong 649 percent to $6.286 million from only P839 million in the same period last year.

PEZA said the investments that came in during the 10-month period generated additional employment for 31,796 workers.

Trade and Industry Secretary Manuel Roxas II admitted earlier that investor perception about the country has been adversely affected by the attempted impeachment of Supreme Court Chief Justice Hilario Davide Jr. and the recent takeover of the Ninoy Aquino International Airport (NAIA) control tower.

"However, the negative effect of the recent developments would not be immediately felt since it takes some time for investors to make their decision," Roxas explained.

More likely, Roxas said, the negative impact would be reflected in next year’s economic figures.