Pol­icy doubts cut Peza in­vest­ments by 40%

Manila Times - - Business Times - BY ANNA LEAH E. GON­ZA­LES

IN­VEST­MENT pledges ap­proved by the Philip­pine Eco­nomic Zone Au­thor­ity (Peza) dropped by 40 per­cent last year due to con­cerns

Data sent by Peza over the week­end showed in­vest­ment pledges dur­ing the pe­riod amounted to

per­cent from P237.57 bil­lion in 2017. They also in­di­cated that to­tal num­ber of projects also and laws,” Peza Di­rec­tor Gen­eral Char­ito Plaza said in a text mes­sage.

While in­vest­ments and num­ber of projects de­clined, data showed di­rect em­ploy­ment in­creased by

jobs from 1.397 mil­lion the prior year. Value of ex­ports like­wise rose will take ef­fect,” said Plaza.

Plaza said the in­crease in ex­port in­come was also due to higher de­mands in the world mar­ket and the United States-China trade war

and other coun­tries.

While in­vest­ments in most sec­tors went down, those in the In­for­ma­tion and Tech­nol­ogy (IT) sec­tor

bil­lion from P15.55 bil­lion, he noted. The sec­tor’s num­ber of di­rect em­ploy­ment went up by 8.05

while ex­port in­come also rose by 9.33 per­cent to $9.81 bil­lion from $8.97 bil­lion.

“Peza’s ex­ist­ing IT in­dus­tries are ex­pand­ing in the last two quar­ters when the un­cer­tain­ties were re­moved by the Se­nate’s non pas­sage of [cur­rent ver­sion] of Tra­baho bill. IT in­creased also be­cause they are catch­ing up be­fore new laws and change of poli­cies will take place,” said Plaza.

“IT also can eas­ily pull out and trans­fer if they’re un­happy of the new poli­cies. They re­place their mov­able equip­ment ev­ery 3 years un­like man­u­fac­tur­ing, pro­cess­ing and other heavy in­dus­tries which are cap­i­tal in­ten­sive so they’re very care­ful in the choice of coun­try to in­vest their huge cap­i­tal and ma­chiner­ies. IT in­dus­tries are at­tached to our English speak­ing and young man­power,” she added.

Plaza how­ever as­sured that Peza con­tin­ues to en­cour­age in­dus­tries to ex­pand and not to fear pol­icy changes be­cause it is do­ing its best

- tives that are work­ing and even en­hance those ex­ist­ing to make the Philip­pines very com­pet­i­tive with other coun­tries in at­tract­ing in­vestors.

Peza ex­pects in­vest­ments to in­crease again after the elec­tion and once a “bet­ter Train 2 ver­sion” is

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