Philippine free zone investments surge

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electronics_factory
Electronics make the lion’s share of exports from the Philippines’ economic zones

Philippine Economic Zone Authority (PEZA), responsible for the promotion of industrial zones in the country to investors, said it has registered an increase in investment pledges of 89 per cent to $1.78 billion in the period from January to May 2013.

Around 60 per cent of these investment pledges will flow into the expansion of several electronics firms, a notable amount of $458 million into a tourism estate.

PEZA director general Lilia de Lima said the agency is preparing around 2,000 hectares of new spaces in its economic zones to accommodate new and expanding companies from China and Japan.

As of April 2013, around 3,000 companies were operating in PEZA economic zones, employing 952,215 people, a 7.2 per cent increase from the same period in 2012.

Export worth $13.55 billion worth from the zones were registered in the period, with electronics comprising around 65 per cent. Other export products from the zones were automotive and machineries.

The government in the wake of the country’s impressive economic growth has set a target to attain $26.5 billion in investments for the industrial zones between 2011 and 2016.

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Reading Time: 1 minute

Electronics make the lion’s share of exports from the Philippines’ economic zones

Philippine Economic Zone Authority (PEZA), responsible for the promotion of industrial zones in the country to investors, said it has registered an increase in investment pledges of 89 per cent to $1.78 billion in the period from January to May 2013.

Reading Time: 1 minute

electronics_factory
Electronics make the lion’s share of exports from the Philippines’ economic zones

Philippine Economic Zone Authority (PEZA), responsible for the promotion of industrial zones in the country to investors, said it has registered an increase in investment pledges of 89 per cent to $1.78 billion in the period from January to May 2013.

Around 60 per cent of these investment pledges will flow into the expansion of several electronics firms, a notable amount of $458 million into a tourism estate.

PEZA director general Lilia de Lima said the agency is preparing around 2,000 hectares of new spaces in its economic zones to accommodate new and expanding companies from China and Japan.

As of April 2013, around 3,000 companies were operating in PEZA economic zones, employing 952,215 people, a 7.2 per cent increase from the same period in 2012.

Export worth $13.55 billion worth from the zones were registered in the period, with electronics comprising around 65 per cent. Other export products from the zones were automotive and machineries.

The government in the wake of the country’s impressive economic growth has set a target to attain $26.5 billion in investments for the industrial zones between 2011 and 2016.

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