PEZA remits Php973-M to NG

By Kris M. Crismundo

MANILA, April 20 (PNA) — The Philippine Economic Zone Authority (PEZA) has remitted a total of Php972.6 million to the national government at end-2014.

This is 33 percent higher from the investment promotion agency’s (IPA) remittances to the national government in 2013 amounting to Php730.69 million.

Since the IPA started in 1995, it remitted a total of Php15.66 billion worth of payments of loans, dividends, and corporate income taxes.

From 1995 to 2014, PEZA has approved a total of Php2.86 trillion worth of investments.

The bulk or 30 percent of the total investments from 1995 to 2014 in PEZA were from Japanese firms.

Local sources accounted for second largest investments, sharing 23 percent of the total.

Other top locators by nationality in PEZA for the said period were Americans (16 percent), Dutch (10 percent), British (8.0 percent), Korean (3.0 percent), Singaporean (3.0 percent), German (2.0 percent), and Swiss (1.0 percent).

On the other hand, 37 percent of companies in PEZA are in electronics and semiconductors sector, 10 percent in information technology services, 9.0 percent metals and fabricated metal products, and 6.0 percent in transport industry including shipbuilding, car parts, and equipment, among others.

PEZA has created 1,170,017 jobs since 1995. (PNA)