The Philippine Economic Zone Authority signed on Monday a memorandum of agreement with the Department of Agriculture that will commit the two to facilitate the creation of agro-industrial and aquamarine economic zones in the Philippines.
PEZA also signed a memorandum of undertaking with True North Farms Inc. of Canada to establish an initial of 50-hectare agro-industrial ecozone devoted solely for cacao production and exports.
The two agreements aim to establish partnership on programs that will industrialize and revolutionize ecozones in the country.
“The MOA and MOU signing is important as PEZA now embarks in revolutionizing its programs,” said PEZA director general Charito Plaza.
She said “the landmark signing is significant as PEZA seeks to promote domestic enterprises to encourage them to maximize domestic production, manufacturing, and export capability of the Filipinos and, thereby, lessen the import-dependence of the country.”
“This is now the time to bring investors to hubs where they can set up rural industries that will unlock the potential of agriculture and agribusiness for the country,” said Agriculture Secretary William Dar.