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  October 23, 2013: New Investments Rise 42% in Jan-Sept

Fresh investments approved by the Philippine Economic Zone Authority (PEZA) for the January-September period this year jumped 41.64 percent to P139.591 billion as against P98.5567 billion in the same period last year buoyed by strong investment streams from the manufacturing sector.
PEZA Director-General Lilia B. De Lima said in a report that the manufacturing sector accounts for 45 percent of total investments of which the electronics sector contributed as much as 80 percent.
Data showed there were 523 new projects approved by PEZA in the eight-month period, reflecting a 24.23 percent increase over the 421 number of projects registered in the same period last year.
Japan remains the number one source of investments followed by the US.
“We are going to see a positive impact from these investments in a year’s time,” De Lima said.
As of August, PEZA reported that its employment improved by 12.71 percent to over a million people employed from 887,378 last year.
Exports also posted a modest improvement of 5.94 percent to $27.959 billion in the January-August period versus $26.389 billion in the same period last year.
“We expect these new investments to help improve our electronics exports because there have been continuing investments in the electronics sector. These will prepare the industry for an upturn by next year,” she said. PEZA exports contribute as much as 75 percent of the country’s total exports.
Also contributing to the investments inflow are the new and expanding developers of special economic zones.
Investments from this sector account for 35 percent of total investments approved in the January-September period.
De Lima said that new ecozone developers have started inquiring since April this year as the government sounded off tightness in available lots for factory buildings. Some of these new ecozone developments are not only located in Luzon, but also in the provinces, De Lima said.
With the significant increase in investments, De Lima expressed optimism of hitting the P300-billion investments goal target for the year.
“We have to double time but we are confident because project registrations normally come in the last quarter of the year,” she said noting that the new investments are not only from the new investors but expansion projects of existing locators in the various ecozones in the country.

Source: Manila Bulletin - October 23, 2013

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