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PHILIPPINES' CSEZ RECORDS US$1.9 BLN INVESTMENTS IN 2001.
CLARK FIELD, Pampanga, Jan 1 Asia Pulse - Increased investments totalling some P101 billion (US$1.9 billion) were recorded in 2001 at the Clark Special Economic Zone (CSEZ).
In a year-end report, Dr. Emmanuel Y. Angeles, president and chief executive officer of Clark Development Corp. (CDC) stated that a total of 23 foreign and local firms invested at this former U.S. military facility since last March, making it one of the top economic zones in the country.
CDC executive vice-president Victor Jose Luciano said the amount represents 70 percent of the total P145 billion investments infused in this zone since 1993.
The influx of investors here also resulted in the rise of employment to 21,705, most of them from Pampanga, Angeles City and some nearby Tarlac municipalities, Angeles said.
From August to September of this year, close to 1,000 persons were hired mostly by new industrial firms and IT-related companies.
It was stated in the CDC year-end report to President Gloria Macapagal-Arroyo that Cyber City Teleservices, Ltd., Red Factory, Rolls Royce Engine Services ...
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Source: HighBeam Research, PHILIPPINES' CSEZ RECORDS US$1.9 BLN INVESTMENTS IN 2001.