Ecozone investments jump to P26B

The Philippine Economic Zone Authority (PEZA) reported yesterday that investments made by locators in the special economic zones from Jan. 1 to June 27 this year increased 13.06 percent to P25.917 billion from the comparable P22.287-billion investments recorded in the first half of 2005.

In a report to Trade and Industry Secretary Peter B. Favila, PEZA director general Lilia B. de Lima said the expected annual average direct employment to be generated by the new investments is 45,772 jobs, a 38.33-percent increase from last year’s 33,088 jobs.

Investments in the information and technology sector, De Lima reported, amounted to P4.478 billion for the period in review, 56.56 percent higher than the P2.861 billion invested in the IT sector for the comparable six-month period last year.

The projected average direct employment expected to be generated from the approved IT projects is 21,844 new jobs which is 76.45 percent more than the 12,380 jobs generated by IT investors in the first six months of 2005.

De Lima also reported that PEZA exports from January to May this year amounted to $13.617 billion, 11.24 percent higher than the $12.241 billion recorded in the same period last year.

De Lima attributed the continued inflow of investments to the special economic zones to the perks investors enjoy, which include income tax holidays, and duty-free importation of capital equipment and raw materials.