Investment pledges approved by PEZA up by 25% to P72.4B from January to April | Inquirer Business
Close  

Investment pledges approved by PEZA up by 25% to P72.4B from January to April

By: - Reporter / @amyremoINQ
/ 07:50 PM May 01, 2014

Screen grab from peza.gov.ph website

MANILA, Philippines—Investment pledges approved by the Philippine Economic Zone Authority (PEZA) grew by 25 percent to P72.4 billion in the first four months of the year, due largely to the increasing number of foreign manufacturing companies that are setting up shop in the country.

Elmer H. San Pascual, group manager of the promotions and public relations group at PEZA, said in a text message that these investments were both for the new and expansion projects in the manufacturing as well as the electronics and semiconductor industries.

ADVERTISEMENT

More specifically, San Pascual said these investment commitments came from the new investments to be made by a German electronics company and a Japanese motor vehicle and spare parts manufacturer.

He further disclosed that PEZA approved new projects by a Filipino-Japanese fabricated metal manufacturer; a Japanese semiconductor manufacturer; three separate Japanese electronics companies; a Filipino-owned agro-industrial enterprise; and a Dutch IT company.

FEATURED STORIES

Also contributing to the rise in investment commitments are the expansion projects of an American electronics company; a Japanese automotive parts manufacturer; a Dutch IT firm at two different sites; Taiwanese electronics firm; Danish electronics company; and an American call center firm.

Investments in ecozone, IT parks and building development were also “significant” for the period January to April 2014, San Pascual added.

Meanwhile, the value of exports coming from the PEZA-managed ecozones rose by 7 percent to $6.75 billion in the first two months of the year, from the $6.306 billion posted in the same period in 2013.

Foreign and local companies continue to be bullish about prospective investment opportunities in the Philippines, due largely to the country’s stellar economic performance, investment grade ratings, strong domestic consumption, good governance, improved business environment, as well as the various other reforms being implemented by the Aquino administration.

PEZA continues also to woo investors through various roadshows in and outside the region. These roadshows, wherein they pitch the various investment opportunities in the Philippines, are expected to help PEZA achieve a 10-percent increase in the approved investment pledges.

Last year, investment commitments approved by PEZA stood at P276 billion.

RELATED STORIES

ADVERTISEMENT

Truck ban alarms Peza, industry group

Okada gaming group finds an ally in Peza

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: agro-industry, Business, electronics, expansion, Information technology, investment pledges, Investments, manufacturing, Philippine Economic Zone Authority, semiconductor
For feedback, complaints, or inquiries, contact us.

Curated business news

By providing an email address. I agree to the Terms of Use and
acknowledge that I have read the Privacy Policy.



© Copyright 1997-2021 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.