P16.5-B New Projects, P10-B Expansion, Ecozone Investments Reach P26.5 Billion
By BERNIE CAHILES-MAGKILAT
June 6, 2012
Manila Bulletin
Investors are flocking into the various economic zones (ecozone) in the country with total investments of P26.5 billion in new and expansion projects in the first five months of the year.
Of these investments, P16.5 billion are new projects while P10 billion are expansion programs of existing locators of the various PEZA zones. There are a total of 42 new electronics firms that are investing in the country and their investments are expected to employ 17,000 workers.
"Investors are on an expansion mode. The time is certainly positive," said Lilia B. De Lima, Director-General of the Philippine Economic Zone Authority (PEZA).
Of the expansion projects, De Lima reported that Toshiba Information Equipment Systems has expanded with P3.6 billion for the manufacturer of new advanced technology equivalent to 2.5 inch terabyte hard disk drive.
It will hire 2,240 workers once it starts commercial operations within the year.
The Toshiba expansion here is part of the relocation of some of its production from its Thailand operation, De Lima said.
Toshiba’s exports for this expansion project alone is estimated to reach $1.327 billion in a single year alone.
The other big investor is Maxim Philis Operating Corp. with P3.2 billion worth of investments for final testing facility of a semiconductor kits in Gateway Industrial Park in General Trias Cavite. This project is going to employ 272 new workers.
Pilipinas Kao Inc. is investing P1.6 billion for increased production capacity of its high purity fatty alcohol using coconut products. The company’s existing manufacturing plant is located in Hasaan, Misamis Oriental.
Wiring harness manufacturer Yazaki Torres has two expansions for each of its two plants in Calamba and Batangas for a for a total of P1.156 billion. The two expansion projects will employ 2,262 Filipinos.
Ernesto Santiago, president of the Semiconductor and Electronics Industry of the Philippines Inc., said they expect to hit its exports growth target of between 10 to 15 percent this year over last year.
The industry already posted a 5.6 percent exports growth in the first quarter this year.
"Prospects for this yearare a lot better," Santiago said.
Of these investments, P16.5 billion are new projects while P10 billion are expansion programs of existing locators of the various PEZA zones. There are a total of 42 new electronics firms that are investing in the country and their investments are expected to employ 17,000 workers.
"Investors are on an expansion mode. The time is certainly positive," said Lilia B. De Lima, Director-General of the Philippine Economic Zone Authority (PEZA).
Of the expansion projects, De Lima reported that Toshiba Information Equipment Systems has expanded with P3.6 billion for the manufacturer of new advanced technology equivalent to 2.5 inch terabyte hard disk drive.
It will hire 2,240 workers once it starts commercial operations within the year.
The Toshiba expansion here is part of the relocation of some of its production from its Thailand operation, De Lima said.
Toshiba’s exports for this expansion project alone is estimated to reach $1.327 billion in a single year alone.
The other big investor is Maxim Philis Operating Corp. with P3.2 billion worth of investments for final testing facility of a semiconductor kits in Gateway Industrial Park in General Trias Cavite. This project is going to employ 272 new workers.
Pilipinas Kao Inc. is investing P1.6 billion for increased production capacity of its high purity fatty alcohol using coconut products. The company’s existing manufacturing plant is located in Hasaan, Misamis Oriental.
Wiring harness manufacturer Yazaki Torres has two expansions for each of its two plants in Calamba and Batangas for a for a total of P1.156 billion. The two expansion projects will employ 2,262 Filipinos.
Ernesto Santiago, president of the Semiconductor and Electronics Industry of the Philippines Inc., said they expect to hit its exports growth target of between 10 to 15 percent this year over last year.
The industry already posted a 5.6 percent exports growth in the first quarter this year.
"Prospects for this yearare a lot better," Santiago said.
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