PEZA optimistic of hitting 12% growth target

MANILA, Philippines - The Philippine Economic Zone Authority (PEZA) is optimistic the 12-percent growth target for export sales from the economic zones this year can be achieved with higher demand for electronic products expected in the last quarter of the year.

PEZA director general Lilia de Lima said in an interview that while export sales from the country’s economic zones have been weak due to lower outbound shipments of electronic products, higher demand for consumer electronic products normally seen towards the Christmas season is expected to help lift total sales.

“I think we need a little more push in meeting the exports (sales target),” she said.

“But normally, during the end of the year, towards the Christmas season, we see higher demand,” she said further.

Many of the locators in the country’s economic zones are engaged in the manufacture of electronic products or parts.

As of end-August, outbound shipments of electronic products from the whole country were down 8.13 percent to $15.59 billion from last year.

The PEZA is aiming for a 12-percent rise in sales of shipments from economic zones this year.

Last year, export sales from economic zones reached $42.14 billion.

As for approved investments, she said the PEZA is also upbeat the 12-percent growth target to reach P323 billion this year from last year will be met with more and more firms looking to locate in the Philippines.

Approved PEZA investments reached P128.2 billion as of end-September.

De Lima said many firms are considering setting-up business operations here given the incentives being offered by the government as well as the availability of skilled workers.

The government is actively seeking firms to locate here in order to create more jobs.

In line with promoting the country as a location for business, De Lima said she is set to visit Japan later this month to meet with both firms and their suppliers to discuss what the country could offer and encourage them to set-up operations here.