THE Philippine Economic Zone Authority (Peza) has reported a 27-percent increase in approved investments in the first six months of 2014, with registered investments from special economic zones amounting to P106 billion during the first semester of 2014 compared to P83 billion during the same period in 2013.
The growth was fueled by new and expansion projects registered in the first semester which, according to Peza officials, was 15 percent more than those recorded during the same period last year.
The growth, according to Peza Director General Lilia B. de Lima puts the investment promotion agency on track on its growth forecast of a 10-percent increase in investments for 2014.
“[In the] first semester, there’s a 27- percent increase from P83 billion to P106 billion. Both new and expansion projects approved in the first semester were 15 percent more, year-on-year, mostly in manufacturing,” said de Lima to reporters at the sidelines of a memorandum of agreement signing event with the Department of Health.
Written by: Catherine N. Pillas