The Philippine Economic Zone Authority said over the weekend it approved 17 major projects in economic zones, with an investment of at least P1 billion each last year.
Data from Peza showed foreign and local companies invested a combined P77.4 billion in the electronics, tourism and energy sector in 2015.
Peza director-general Lilia de Lima said the 2015 figure covered new and expanding enterprises, with an investment of at least P1 billion each. She said electronic companies dominated the list of big investors in the economic zones.
“Most of the new companies started construction last year with several companies wrapping up construction in early 2016, but most of them are expected to start operations within the year,” de Lima said.
She said the biggest investment in 2015 was a new project by a Dutch export company, which infused P25.15 billion worth of capital.
Major investments in economic zones also included P15.72 billion by another Dutch company; P10.1 billion in an expansion project by a Korean company; P5 billion in a tourism enterprise by MJC Investments Corp.; P3.2 billion by renewable energy producer Petrosolar Corp.; P2.96 billion by a Japanese electronics company; P2.1 billion by a Dutch IT company; P1.7 billion by Infinity Philippines; and P1.5 billion by DCS Development Corp.
Data showed other big investments last year were P1.4 billion in an expansion project of a Japanese company; P1.3 billion by a Dutch power components firm; P1.3 billion by a US electronics company; P1.2 billion by a Japanese electronics company; P1.6 billion by a Dutch IT company; P1.2 billion in expansion project of an American electronics export company; P1 billion in an expansion project of a Dutch IT firm; and P1 billion in an expansion project by a Japanese car parts manufacturer.
De Lima said exports from the country’s economic zones likely grew 2 percent to 7 percent last year. The final figures have yet to be submitted to the government.
Electronic products remained the top export items of locators in economic zones, with latest figure showing electronic export receipts of $2.774 billion or 54.2 percent of the total exports revenue in November.
Electronic exports increased 9.3 percent from $2.539 billion in November 2014. Electronic components and devices had the biggest share of 38.3 percent among electronic products in November and grew 5.7 percent to $1.961 billion from $1.855 billion in November 2014.
Data showed that despite the higher electronic exports in November, total export sales dipped 1.1 percent to $5.117 billion from $5.175 billion in November of 2014, pulled down by sluggish sales of other export items.
Shipments of articles of apparel and clothing accessories fell 42.7 percent; chemicals, 40.2 percent; woodcrafts and furniture, 9.5 percent; other manufactures, 6 percent; and metal components, 3.7 percent.
Total merchandise exports in the first 11 months of 2015 also dropped 5.8 percent to $54 billion from $57.29 billion a year ago.