Ecozone Investments Nearly Double in 2 Months

Article excerpt

Investments registered with the Philippine Economic Zone Authority (PEZA) nearly doubled in the first two months this year to P4.308 billion from P2.206 billion in the same period last year.

In a report to President Estrada, PEZA Director General Lilia B. de Lima said the investments represent the costs of the 34 projects approved in the January-February period this year.

Half or P2.085 billion of the approved projects were registered in January. It was 162.9 percent higher than the P793 million in January 1999.

De Lima said investments by export enterprises accounted for P3.859 billion which was 158 percent increase from P1.495 billion in the January-February period last year.

Investments for new ecozone projects amounted only to P449 million, a 36.85 percent decline from P711 million registered in the same period last year.

The big projects approved in January include San Technology Inc., Cypress Semiconductor Philippines Inc. and E-Telecare International Inc.

Japanese-owned San Technology Inc. is investing P670 million to expand its existing magnetic voice coil motor for computer hard disk drive, pagers and cellular phone project.

San Technology will export its products to Asean countries, Japan, US, Europe and other PEZA-registered enterprises. …