New investments in economic zones total P70.96B – PEZA

There were substantial increases in terms of fresh investments and employment generation in various economic zones in the Philippines during the first eight months of the year, according to Philippine Economic Zone Authority (PEZA). In a report to Trade and Industry Secretary Gregory Domingo, PEZA director general Lilia B. de Lima said PEZA economic zone investments totaled P70.96 billion, 31 percent higher than the approved investments in the same period last year. Locator investments reached P53.8 billion while developers of economic zones poured in P17.16 billion, De Lima noted. De Lima said expected job generation from investments this year is 58,260 direct employment, 11 percent higher than the projected employment of 52,421 from projects approved in the same period in 2009. The PEZA board approved 332 projects — 293 projects for locators for manufacturing and I.T. enterprises and 39 projects for developer or operator of economic zones. —JE, GMANews.TV