THE Philippine Economic Zone Authority (PEZA) said January investments registered with the agency hit P14 billion, up 27% year on year, amid a reduction in the number of projects.

PEZA Director-General Charito B. Plaza told reporters on Wednesday that marketing and promotion efforts with Local Government Units (LGUs) were behind the increase, with PEZA targeting at least two economic zones per region.

The number of registered projects in January fell to 32 from 56 a year earlier.

PEZA discussed data for only one industry — Information Technology (IT), which attracted investments worth P529 million, down 73.23% from a year earlier, with IT-related projects falling to eight from 22 a year earlier.

Despite the decline in raw numbers, Ms. Plaza noted that IT companies are pushing out to nontraditional investment destinations. She cited an IT company called SITEL, which is “opening in Palawan” pending some clarifications on the impact of tax reform.

Ms. Plaza said once the tax uncertainties have been cleared up with investors, PEZA expects activity to pick up.

In 2017, PEZA-registered investment grew 8.89% after a 48.90% drop in the IT segment, which she blamed on security worries following the declaration of martial law in the southern Philippines following the Marawi occupation.

PEZA is expecting investment from six Japanese banks looking to set up in the Philippines to service Japanese companies active in the country, Ms. Plaza said, adding that the agency is also targeting investment from agricultural processors. — Anna Gabriela A. Mogato

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