During the Philippine Economic Zone Authority’s (PEZA) Investors’ Recognition Night held last Tuesday, PEZA Director General Lilia B. de Lima announced that total investments in the country’s economic zones rose by a strong 28.18 percent to P6.414 billion in the first four months of the year from P5.005 billion in the same period last year.
Of the amount, the information technology (IT) sector accounted for P1.444 billion, or a sharp 92 percent increase from last year’s P753 million.
De Lima attributed the increase to the possible return of investor confidence in the Philippines.
The capital inflow during the four-month period generated jobs for 13,455 workers, a 3.85 percent increase from last year’s figure.
De Lima stressed that PEZA remains committed to President Arroyo’s promise to create one million jobs annually.
The cumulative investment from 1987 to 1994, which were the last eight years of the Export Processing Zone Authority (EPZA), the predecessor of PEZA, was recorded at P22.2 billion.
De Lima said that during the first eight years of PEZA’s operations, from 1995 to 2002, economic zone investments soared to a total of P806.3 billion, 36 times the cumulative level of the last eight years preceeding the creation of the PEZA.