Economic zone investments up 5.58% in 2015; BPO among new projects

Information Technology Centers (ITC) and manufacturing and electronics projects were among the new investments that were approved by the Philippine Economic Zone Authority (PEZA) in 2015. ITC projects include those of the Information Technology and Business Process Outsourcing (IT-BPO) companies, according to PEZA. Data released by PEZA showed that a total of over Php295-billion worth of investments were approved last year, a 5.58% rise from the previous year. As of the end of H1 in 2015, IT Centers and Parks have the most number of economic zones in the country at 216. Direct employment in PEZA economic zones also rose to 1.243 million for the first 10 months of 2015, representing a 7.73% increase from the same period in 2014.