NEWSFLASH

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INVESTMENTS RISE 169% IN ECOZONES

Manila, Oct. 20, 1997 - Investment figures show that Economic Zones do work. Projects approved by the Philippine Economic Zone Authority (PEZA) as of Mid-October have totalled P119.92 billion, or an increase of 169 percent from last year.

In its latest board meeting, PEZA approved four new ecozones which will be developed at a combined cost of P10.83 billion.

Leading the new projects is the P8.5 billion tourism estate development project of Malaysian conglomerate Ekran Berhad in Samal Island. The site will cover 215 hectares of prime beach properties.

Another project approved is the expansion of the Ayala-owned Integrated Micro- electronics Inc in the Laguna Technopark, which is spending P453 million for a plant that will assemble semi-conductor parts for export to Yamaha Corporation.

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