Ecozone investments jump 22%

The Philippine Export Zone Authority (PEZA) reported yesterday that locator investments in the special economic zones from Jan. 1 to Aug. 10 this year went up by 22.32 percent to P35.307 billion from P28.863-billion recorded in the same period last year.

In a report to Trade and Industry Secretary Peter B. Favila, PEZA director general Lilia B. de Lima said the expected annual average direct employment to be generated by the investments is 53,712 jobs, a 19.42- percent increase from last year’s 44,977.

Investments in the information and technology sector, De Lima reported, amounted to P5.203 billion for the period in review.

The P5.203-billion investments in the IT sector, De Lima said, is 9.63 percent higher than the P4.746 billion invested in the IT sector for the comparable period last year.

The projected average direct employment expected to be generated from the approved IT projects is 24,370 new jobs which is 33.46 percent more than the 18,260 jobs generated by IT investors a year ago.

De Lima attributes the continued inflow of investments to the special economic zones to the perks investors enjoy including duty-free importation of capital equipment and raw materials.