Sunday, July 6, 2014

PEZA considers reviewing targets due to Manila port congestion

MANILA -- The Philippine Economic Zone Authority (PEZA) considers for the first time to review its target growth for exports revenue, investment value, and number of job creation for this year because of the Manila port problem.

“I’m afraid for the first time we may have to review our targets because of this port congestion situation,” PEZA Director General Lilia De Lima told reporters in an interview.

De Lima said that if the port situation will not improve, it may affect the exports revenue of companies under PEZA zones and existing companies may rethink for expansion or even halt planned expansion.

Thus, she added that the port congestion situation now may affect the entry of future investments and may become a threat for more job creation.

Likewise, PEZA spokesperson Elmer H. San Pascual noted that 75 percent of the total PEZA-registered firms are export-oriented and most of these companies are in the Calabarzon area which are most affected with the port problem in Manila.

Calabarzon is composed of the provinces of Cavite, Laguna, Batangas, Rizal, and Quezon.

San Pascual cited that PEZA’s two largest exporters, which he declined to name, have reported negative export revenue during the first five months of the year.

The largest exporter had a -12.97 percent exports revenue from January to May 2014 while the other firm had a -8.6 percent export value in the same period.

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