PEZA investments to reach P25 B in Q1
By BERNIE CAHILES-MAGKILAT
March 24, 2011
Manila Bulletin
MANILA, Philippines – New investments approved by the Philippine Economic Zone Authority (PEZA) in the first quarter this year are expected to reach between P20 billion to P25 billion.
Elmer San Pascual, group manager of the Promotion and Public Relations of the Philippine Economic Zone Authority (PEZA) , said the exact figures are still being finalized but they are on track with their growth target.
“We should be in the P20 billion to P25 billion mark investments in the first quarter of this year to be able to achieve our 10 percent growth target this year,” he said.
PEZA, which administers the registration of export-oriented enterprises in the country’s various economic zones, is targeting P224 billion investments this year from P204 billion in 2010.
“We are on track and even more than that,” San Pascual said.
The new investments that came in the first two months this year are not the big companies but are mostly in the supporting industries that are part of the supply chain.
“Tourism investments are also making some headway in the first two months,” he said.
In terms of exports and employment, San Pascual said they have no problem meeting the growth targets also. The agency is targeting the same 10 percent growth in exports and employment this year over 2010.
“The indication is we are growing between 15 to 20 percent for our exports although our target is only 10 percent growth,” he said.
Exports in January this year was up 8.26 percent to $3.33 billion from $3.133 billion in January 2010.
Employment in PEZA zones was also up 21.97 percent or a total of 777,882 as against 637,759 in January 2010.
San Pascual said the biggest jump in exports was registered by the IT sector, which posted a 45 percent increase in January to $432 million form $297 million in the same month last year.
Elmer San Pascual, group manager of the Promotion and Public Relations of the Philippine Economic Zone Authority (PEZA) , said the exact figures are still being finalized but they are on track with their growth target.
“We should be in the P20 billion to P25 billion mark investments in the first quarter of this year to be able to achieve our 10 percent growth target this year,” he said.
PEZA, which administers the registration of export-oriented enterprises in the country’s various economic zones, is targeting P224 billion investments this year from P204 billion in 2010.
“We are on track and even more than that,” San Pascual said.
The new investments that came in the first two months this year are not the big companies but are mostly in the supporting industries that are part of the supply chain.
“Tourism investments are also making some headway in the first two months,” he said.
In terms of exports and employment, San Pascual said they have no problem meeting the growth targets also. The agency is targeting the same 10 percent growth in exports and employment this year over 2010.
“The indication is we are growing between 15 to 20 percent for our exports although our target is only 10 percent growth,” he said.
Exports in January this year was up 8.26 percent to $3.33 billion from $3.133 billion in January 2010.
Employment in PEZA zones was also up 21.97 percent or a total of 777,882 as against 637,759 in January 2010.
San Pascual said the biggest jump in exports was registered by the IT sector, which posted a 45 percent increase in January to $432 million form $297 million in the same month last year.
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