Baguio ecozone sees investments of P7B this year

The Baguio City Economic Zone (BCEZ) is expecting almost P7 billion worth of investments to come in this year.

In a report prepared by BCEZ Zone Administrator Tereso O. Panga, three Filipino-owned companies and two Korean led firms are infusing fresh capital into the ecozone.

The two Korean firms are WOW-MRF which will infuse P10 million and WOW-Recycling which will invest P8.2 million.

The biggest new investor within BCEZ is the Filipino led facilities provider Panorama which is expected to invest P60 million for a 4,983-square meter, three-story property.

Facilities provider Edgewortth, importer and distributor of semiconductor materials and equipment, electronic parts and components and generators, has committed approximately P30 million in BCEZ while P10 million was invested by Synapse Systems. Synapse Systems is a medical transcription company put up by five local Baguio women.

New total investments by new locator companies amounted to P118.2 million.

Meanwhile, expansion investments by existing locator companies reached over P800 million.

Call center Clientlogic will put up Phase 2 of its BCEZ operations as it invests $5.5 million for a call center that can accommodate 1,000 seats.

Japanese facilities provider Omed, a developer of customized software solution and re-engineering, automation and application has committed P12 million in expansion projects.

Nam-Ay Ti Umili Inc., is the only Filipino company expanding. It will build a call center and BPO with 100 seats worth P4.5 million.

Rounding up expansion investments is MOOG Phase 3, a 100-percent American-owned worldwide manufacturer of precision control and components system, which will invest an additional $10.5 million as it constructs two more buildings. MOOG is a manufacturer of military and commercial aircraft; satellites and space vehicles. MOOG has likewise expressed interest to put up Phase 4 at the PEZA-BCDA Expansion Area worth $100 million.