Peza investments up to 89%

Investment

PEZA (Philippine Economic Zone Authority) reported yesterday that new investment pledges registered from January to July went up to 89.43% partly because of “aggressive marketing” efforts both here and abroad.

Director General Charito Plaza said in a press briefing that investment pledges increased to P70.03 billion in the first seven months.

The latest investment figures have a total of 363 projects that were registered in the first seven months of 2017

According to Elmer San Pascual, manager of PEZA’s promotion and public relations, the new investments mostly came from Japan, USA, and South Korea. With a ratio of 70% (foreign), 30% (local)

There was also an increase in employment in the first semester reaching 1.36 million, a 6., a 6.41% increase in the same period last year. In terms of exports with the same period given, there was also an increase from $22.29 billion to $25.05 billion.

A copy of the breakdown from of investments from January to June showed a decline in IT-BPO pledges.  From January to June 2017, pledges in the IT-BPO industry decreased 33.35 percent to P8.14 billion from P12.22 billion during the same period in 2016.

When asked about the decline in IT-BPO pledges, Plaza said to was because of the political uncertainty under the Trump administration. “[Since] most of our BPOs and call centers are American companies, they are waiting for a clearer policy of the Trump administration,” Plaza said.

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