NEWSFLASH

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50,000 NEW JOBS FROM ECOZONES IN '98

Manila, January 1, 1998 - More than 50,000 new jobs will be created by new companies which will start to operate inside Special Economic Zones all over the country next year.

Philippine Economic Zone Authority (PEZA) Director-General Lilia de Lima reported to President Ramos that massive recruitment nationwide will be conducted by some 100 new companies which will all be operational in 1998.

In addition, some 50 companies now in operation have approved plans of expanding next year, and would need more workers.

De Lima noted that in 1997 alone, 10 new ecozones have been proclaimed from Northern Luzon to Mindanao, and 5 more are expected to be approved next month.