By Louella D. Desiderio (The
Philippine Star) | Updated November 16, 2013
MANILA, Philippines - Approved
investments by the Philippine Economic Zone Authority (PEZA) rose 38.5 percent
to P150.91 billion in the January to October period compared to a year ago as
locators spent for expansion and new players set-up operations in the country
amid improving economic conditions.
“The investments are for expansion and
for new facilities,” PEZA director general Lilia De Lima told reporters in a
chance interview.
She said that 55 percent of the
approved investments were funds poured in by existing locators to expand
operations, while the rest came from new players.
She added that the investments are for
manufacturing facilities.
The country is becoming a more
attractive location for investments given its strong economic growth, good
governance efforts as well as its available labor pool.
De Lima expects more investments to be
made as many foreign companies are visiting the country to check opportunities
here.
She said that a Japanese investment
mission composed of firms engaged in basic support industries for the
automotive and electronics sectors were in the country recently.
The firms are engaged in the mold and
dye industries.
“They are interested to invest here,”
De Lima said.
She added that another mission
composed of a total of 20 Japanese and Korean small and medium enterprises are
in the country to see if there are business opportunities for them.
“These Japanese and Korean
(enterprises) were invited by their friends who already have businesses here,”
she said.
Last year, the PEZA approved a total
of P311.9 billion worth of investments, eight percent higher than the P288
billion approved in 2011.
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