MANILA, Philippines - The Zamboanga City Special Economic Zone Authority and Freeport is aiming for a 150 percent growth in exports from the ecozone this year as it looks to attract new firms to invest and as existing locators expand operations.
Zamboanga City Special Economic Zone Authority chairperson and administrator Christopher Lawrence Arnuco told reporters yesterday he expects a big jump in exports from the ecozone this year with the value of shipments at present already nearly half of total exports in 2013.
Exports from the ecozone were valued at $3.68 million in 2013.
“We are targeting new locators,†Arnuco said.
He revealed that Japanese tuna processor Tenpoint Manufacturing Corp. has expressed interest to invest in a facility in the ecozone this year.
Tenpoint’s processed tuna would be for export to Japan.
Aside from Tenpoint, he said four of the 12 firms that were part of the business delegation of the Federation of Indian Chambers of Commerce and Industries which visited the country yesterday, are also planning to set up operations in the ecozone.
These firms are the Ivory Education Pvt Ltd. (technology based education), Huechem Textiles Pvt Ltd. (garments), International Professional Financial Careers Academy Pvt. Ltd. (accounting course) and Ozzy Business Consulting Ltd. (lemongrass products).
“We’re looking for other businesses to locate here such as pharmaceuticals, those engaged in power and refinery,†Arnuco said.
He added that the significant increase in exports this year would be supported by the expansion of existing locators.
The Zamboanga City Special Economic Zone and Freeport which covers about 16,000 hectares, hosts 15 companies with total committed investments of P10 billion.
Locators in the ecozone could enjoy income tax holidays, duty-free importation of goods and other incentives.
Apart from the different fiscal and non-fiscal perks, the ecozone also offers rock bottom lease rates of P8.50 per square meter (sqm)per month in the lowlands and P3,500 per sqm per year for the highlands.