Philippines’ Investments in economic zones rise 10% to ₱138 Billion — PEZA

Commercial hub of Embarcadero, the ₱1.8-billion IT Park Promenade which will be the very first IT ecozone in the Bicol region

The Philippine Economic Zone Authority reports a 10.30-percent jump in investment commitments in the country's economic zones for the first 10 months of 2012 to 137.992 billion.

The total comes from 480 projects, 6 percent fewer than last year's 510, but the amount is 12.988 billion more than last year's 125.104 billion.

As of September, actual exports went down 6 percent year-on-year to $29.785 billion from $31.624 billion, as the country continues to experience the slowdown in global demand for electronics products in particular.

However, the data showed that actual direct employment increased 8 percent to 884,510 from 822,147 a year ago.

The agency said earlier that despite the decline in electronic shipments, investment commitments still grew, with other sectors remaining bullish about better export numbers in the coming months.

However, the data showed that actual direct employment increased 8 percent to 884,510 from 822,147 a year ago.

The agency said earlier that despite the decline in electronic shipments, investment commitments still grew, with other sectors remaining bullish about better export numbers in the coming months.

An official said PEZA remains optimistic of meeting its target this year of a 12-percent growth for all investments, exports and employments amounting to 323 billion.

PEZA has been aggressively conducting marketing and investment missions overseas, just like what its counterpart Board of Investments has been doing for the past months.

GMA News

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