PEZA reports 227% jump in Jan-Feb investments

The Philippines is well on the way to regaining the confidence of foreign investors, based on investment figures released yesterday by the Philippine Economic Zone Authority (PEZA).

In a press statement, PEZA Director General Lilia de Lima said foreign investments registered with the PEZA for the first two months this year soared by a whopping 227 percent to P12.6 billion, from the P3.8 billion registered during the same period last year.

"We noticed a very perceptible renewed interest in our country especially with the new administration of President Arroyo," de Lima said, adding that at least two major investment missions from the United States and Japan have decided to visit the Philippines.

De Lima said most of the mission participants have expressed particular interest in the government’s priority investment area which is information technology.

De Lima also reported that the PEZA board has approved five IT zones so far this year, the latest of which is the Cebu Civic and Trade Center (CCTC). The four other approved IT zones are the Robinson Cyberpark located at the corner of EDSA and Pioneer St. in Mandaluyong City, the PBCom Tower located along Ayala Ave. corner Herrera St. in Makati City, the Cebu Cybertown located in Mactan, Cebu, and the Bonifacio Information Technology Zone located in Fort Bonifacio.