BOI, PEZA investments hit P130-B in 1st qtr

The Board of Investments (BOI) and the Philippine Economic Zone Authority (PEZA) reported combined investments of P130 billion in the first three months of the year, a strong 1,072 percent increase from P11.09 billion recorded in the same period last year.

Of the amount, foreign investments accounted for the lion’s share with P118 billion, or a 1,827 percent surge from the previous year’s P6.123 billion.

Capital inflow from local investors rose by nearly 140 percent from P5 billion in the first three months of 2003 to P12 billion this year.

The BOI said the electricity, gas and water supply sectors accounted for P107 billion of the total.

The manufacturing sector got P19.5 billion this year, or a 371 percent increase from the P4.1 billion in 2003.

Information technology (IT) investments rose by 45 percent to P2.88 billion during the first three months of the year from P1.98 billion a year ago.

By area, Bataan in Region 3 received the single biggest investment with the construction of GNPower’s liquefied natural gas combined cycle power plant.

Meanwhile, export earnings from the Subic Freeport amounted to $211 million, or 17 percent better than the P180 million recorded in 2003.

According to the One-Stop Export Documentation Center-Subic (OSEDC) of the Subic Bay Metropolitan Authority (SBMA), export performance improved due to better computer and other electronic products.

Computer manufacturer Wistron Infocomm led the pack with shipments valued at $152.5-million.

Electric machinery and appliances manufacturer Sanyo Denki ranked second with exports valued at $13.4 million followed by automated teller machine (ATM) parts manufacturer Omron Corp. with $10.7 million.

Japanese wood processing firm Juken Sangyo Philippines with earnings amounting to $6.7 million ranked fourth followed by Taiwan Hitachi .