PEZA posts 317% jump in locator investments

The Philippine Economic Zone Authority (PEZA) reported yesterday a 317 percent increase in locator investment in the country’s special economic zones.

In a report to Trade and Industry Secretary Cesar V. Purisima, PEZA Director-General Lilia B. de Lima disclosed that total economic zone locator investments approved from the period Jan. 1 to Feb. 29 this year amounted to P12.876 billion.

The investments in the first two months of this year, de Lima said, showed a 317 percent increase compared to the approved investments for the same period last year of only P3.087 billion.

The PEZA figures dispel claims that investors are shying away from the Philippines because of continued fears about peace and order and uncertainty over the May national elections.

The PEZA also reported that actual exports in the month of January amounted to $2.358 billion, increasing by almost 25 percent over the comparative exports for January 2003 of $1.887 billion.

In terms of employment, the investments in PEZA resulted in jobs for 973,420 workers.

The newest locators as of February, the PEZA further reported include the Laguna Autopart Manufacturing Corp. (LAMC) with an initial investment of P814.93 million; the ACP Test Company, Inc. (ACPTCI) with an initial infusion of P655.451 million and the Primary Industrial Properties Corp. (PIPC) with an initial investment of P345.7 million.

The LAMC is a 90 percent Japanese and 10 percent Filipino firm that will manufacture/produce various vehicles parts and automotive components at the Laguna Technopark, Inc.

It’s main production will be of stator 8GMi, a part of an alternator.

All of its production is intended for export which is expected to generate sales of $8.123 million and provide direct employment for 258 workers.

The ACPTCI is a 99.65 percent American, 0.2 percent Filipino and 0.15 percent German firm that will engage in the final test and packaging of electronic components.

However, its activities will not be limited to integrated circuits and other related semi-conductor devices at the Carmelray Industrial Park I.

It is projecting annual average sales/revenue of $5.597 million and will provide direct employment to 312 workers.

PIPC, for its part, is a 100 percent Filipino-owned firm that is constructing an information technology building at Asiatown IT Park which is located at Barangays Lahug and Apas in Cebu City.