IT investments in economic zones grow around 9%
From January to September this year approved investments by the Philippine Economic Zone Authority (PEZA) rose 8.82%. PEZA approved PHP12.39 billion (US$230.2 million) worth of investments in the information technology and business process outsourcing (ITBPO) industry, compared to PHP11.39 billion (US$211.7 million) in the same period last year. PEZA director general Charito Plaza said the development proves ITBPO sector’s renewed interest in PEZA. Plaza said the bulk of registered projects in the first nine months were from existing locators, adding that only a few new ITBPO firms came in during the same period. ITBPO firms are forced to expand because of the increasing demand from their existing clients, forcing them to boost their operations despite challenges in both domestic and external markets. PEZA registered declines in investment approvals from ITBPO companies for several months due to jitters brought about by the Philippine tax reform program.