MANILA, Philippines - Exports from the Zamboanga City Special Economic Zone (ZamboEcozone) and Freeport grew by 38 percent in the January to May period from a year ago largely due to the performance of two locators.
According to the ZamboEcozone Authority, total exports as of end-May reached $1.68 million, up from the $1.22 million faster in the comparable period a year ago.
“The continuous rise in export value figures is attributed to the excellent performances of two of the biggest exporting enterprises in the ZamboEcozone - Seachamp International Export Corp. (SEIC) and CTK Asia Rubber Corp. (CTK),†it said.
SEIC is engaged in the processing, manufacturing and export of processed marine products, specifically octopus and sillago fish.
It ships its products to the US, Thailand and Mexico.
CTK, meanwhile, is involved in the processing, manufacturing and export of technically specified natural rubber to South Korea.
Earlier, ZamboEcozone Authority chairperson and administrator Christopher Lawrence Arnuco said he expects total exports from the economic zone to jump 150 percent this year from a year ago as new firms invest there and existing locators expand operations.
Exports from the ecozone were valued at $3.68 million in 2013, well-above the $1.048 million in the previous year.
For this year, 11 firms have expressed interest to locate in the economic zone.
These are: Vicente T. Lao Construction (aggregate, asphalt and batching manufacturing plant); Primetech Construction and Trading (oil depot and gasoline station); Zamboanga Hemp Agro-Eco Resources Coop. (abaca fiber production plant); Zamboanga Dairy Cattle Association (cattle farm);
New Traditions and Agri Trading (banana plantation); AHS Aqua-Agri Ventures (cacao seedling nursery); ECO Bottling Enterprise (PET bottling factory); JL-Sayang Corp. (cigarette manufacturing plant); Dreamville Supermarket (grocery and convenience store); Grace Construction Corp. (asphalt manufacturing plant); and Lin Man Power Technology (digital meter assembly factory).
Of the 11 firms which expressed interest to locate in the ZamboEcozone the applications of Vicente T. Lao Construction and New Traditions Agri Trading have been approved, while the applications of ECO Bottling Enterprise and Dreamville Supermarket were conditionally approved pending the submission of documentary requirements. – Louella Desiderio
At present, there are 16 registered locators in the ZamboEcozone and Freeport, engaged in manufacturing, processing, utilities and facilities operator, farming estate, management and support services, warehousing, restaurant and catering services, and power generation.
Locators in the ZamboEcozone and Freeport enjoy income tax holidays, duty-free importation of goods and other incentives.
Apart from the different fiscal and non-fiscal perks, the economic zone also offers very low lease rates of P8.50 per square meter (sqm) per month in the lowlands and P3,500 per sqm per year for the highlands.