Philippine Economic Zone Authority
MANILA -The Philippine Economic Zone Authority (Peza) on Tuesday said Malacañang had approved the creation of two new economic zones under the government investment promotion agency, with these additional industry hubs expected to bring in P1.6 billion worth of investments.
The Peza said these economic zones would be located in Batangas province and in Bacolod City in Negros Occidental.ADVERTISEMENT
“The two economic zones will certainly bolster and spread economic growth outside the National Capital Region,” Tereso Panga, director general of Peza, said in a statement.
The investment promotion agency said that President Marcos signed Proclamation No.402 on April 19, designating several parcels of land located at Barangays of Santiago, Luta Sur, and Bagong Pook in Malvar, Batangas, for the expansion of the 700-hectare Lima Technology Center Special Economic Zone.FEATURED STORIES BUSINESS BPI cuts branch network following merger with Robinsons Bank BUSINESS Cebu Pacific elevates passenger experience at NAIA Terminal 3 BUSINESS BIZ BUZZ: Was it an emergency?
IT park The expansion is expected to bring P864.224 million worth of investments, the Peza said.
Meanwhile, Proclamation No.200 was signed by the President last April, promulgating a new information technology (IT) park ecozone along Lacson Street in Banago, Bacolod City.
The economic zone will be called the Robinsons Cyberpark Bacolod, said Peza, and is projected to bring in P777.350 million worth of investments.
“With our 10-percent target growth for 2023, we remain on track in our goal of establishing at least 30 ecozones every year that create centers of economic progress outside the National Capital Region to spur countryside development,” Panga said.
As of April 19, the Peza said it had 20 other economic zones waiting to be approved by the President.
New types These include 11 IT centers, eight manufacturing zones and one agro-industrial hub.
The Peza is also pushing for the creation of new types of economic zones, with at least 13 they want to immediately promote.ADVERTISEMENT
These ecozone types include “aerotropolises,” agro-forestry economic zones, aquamarine parks, biotech centers, defense industrial complexes, e-commerce zones, halal and food production hubs and jewelry parks.
Also included in the Peza’s list are knowledge, innovation, science and technology parks, mineral processing zones, pharmaceutical zones and renewable energy parks.
INQ
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