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COMBINED
fresh investments registered with the Board of
Investments (BOI) and the Philippine Economic Zone
Authority (Peza) increased by 30 percent to P130 billion
in the first half of the year compared to the same
period last year.
The
P130-billion fresh capital represents 347 new projects,
with 67,393 fresh jobs expected to be generated.
In the
first half of 2006, BOI-Peza investments totaled P100
billion covering 331 projects, with 63,260 persons
expected to be employed.
Of the
P130-billion new investments, BOI accounted for P61
billion and the remaining P69 billion came from Peza-accredited
enterprises.
For June
2007 alone, BOI generated P39.3 billion in fresh
capital, or a 248-percent increase compared with the P11
million recorded in June 2006.
Peza, on
the other hand, generated P7.3 billion in June, or 55
percent more than the P4.7 billion in the same month
last year.
Investments in the manufacturing sector grew by 157
percent to P48.5 billion from P18.8 billion, with the
biggest coming the capital infusion of Mabuhay Vinyl
Corp. for the manufacture of caustic soda and
hydrocholoric acid and liquid worth P564.6 million, and
Pilipinas Kyohritsu’s production of automotive wiring
harness worth P453.3 million.
Infrastructure and electricity, gas and water supply
sectors grew substantially with the investments in
renewable energy sources as that of SN Aboitiz Power
Inc., a hydroelectric power generating plant worth P27
billion; First Hydro Power Corp. another hydroelectric
power generation project worth P7.7 billion; Montalban
Methane Power Corp. involving the production of power
from methane coming from dumpsites worth P1.6 billion;
and Philippine Hybrid Energy Systems, Inc., a wind
diesel hybrid energy power system worth P2.2 billion.
The IT services remarkably performed this year with a
growth of 86 percent from P4.7 billion in 2006 to P8.7
billion in 2007.
The
major investors include Sykes Asia (P845 million),
Latitude Broadband, (P162 million), Ghlsys
Philippines
(P154 million), Philweb Corp., (P147.8 million), and
Focusmedia Audiovisuals (P126.7 million).
“The
remarkable first half of the year investment performance
shows that the Philippines is still one of the best
investment destinations in Asia, an indomitable proof
that the country remains competitive as brought about by
the sound economic measures put in place by the
government, despite the recent political exercise and
the attendant political noise created by this exercise,”
Trade Secretary Peter B. Favila said.
Local
investors accounted for 50.1 percent or P65.4 billion of
the total investments, slightly higher than the P64.9
billion poured in by foreign businessmen. |
