Thursday, January 22, 2015

Port logjam lowered Peza investments in 2014

Investments registered by the Philippine Economic Zone Authority increased by a marginal 1.21 percent in 2014, a consequence of the truck ban in Manila that triggered a seven-monthlong congestion in the capital’s main gateways.

According to Peza Head for Promotion and Public Relations Group Elmer San Pascual, investments as of December 2014 is at $279.477 billion, which fell short of the 10-percent target for 2014.

“Malaki epekto ng port congestion. Those who were planning to expand had to rethink their expansion plans because their raw materials were not coming in and they, likewise, can’t ship out their finished products,” San Pascual said.

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