INVESTMENT pledges registered with the Philippine Economic Zone Authority (PEZA) increased by more than 70 percent to P120.22 billion in the first five months of 2017 from a year earlier, PEZA Director General Charito Plaza said.
Plaza revised her earlier announcement that investments during that period jumped by more than 98 percent to P107.75 billion.
“In just five months, PEZA has reached P120.220 billion of investments, [showing]71.66-percent growth over the same period last year of P70 billion,” Plaza told reporters on Monday.
Plaza said PEZA incentives, which include income tax holidays, were attractive to foreign export-oriented investors.
She also cited the Philippines’ strategic location at the center of the Asia-Pacific region, which makes the country ideal as a goods distribution hub for the world market.
Earlier, the ecozone chief said she was optimistic PEZA investment pledges would grow by up to 300 percent this year.
“We’re very optimistic that 2017 will be a big year for the semiconductor and electronics industry,” Plaza said. “We’re expecting 200 percent to 300 percent new investments by the end of 2017 over last year,” she added.
PEZA-registered investments, which enjoy fiscal and other incentives, fell by 26 percent last year to P218 billion amid policy uncertainty brought about by the presidential election.
RAADEE S. SAUSA