The Office the President approved and proclaimed a new economic zone in Bacolod City and the expansion of another in Batangas province, with combined investments of P1.64 billion, the Philippine Economic Zone Authority said Tuesday.
“The two economic zones will certainly bolster and spread economic growth outside the National Capital Region,” said PEZA director-general Tereso Panga.
President Ferinand Marcos Jr. signed Proclamation No. 200 on April 14, 2023, promulgating a P777.35-million IT park in Banago, Bacolod City to be known as Robinsons Cyberpark Bacolod.
He also approved Proclamation No. 402 on April 19, 2023, designating several parcels of land in Barangays Santiago, Luta Sur and Bagong Pook in Malvar, Batangas for the expansion of Lima Technology Center Special Economic Zone. The expansion is estimated to bring in P864.224-million in investments.
Panga said PEZA is on track on to creating 30 economic zones outside the National Capital Region every year to diffuse the benefits of economic zones and bring jobs closer to Filipino workers.
The agency is keeping its 10-percent growth forecast for 2023, he said.
PEZA said 20 more applications for economic zones were awaiting the approval of the President, including 11 IT centers, eight manufacturing and one agro-industrial ecozones.
“It is exactly what we need to continue what the administration is gearing towards: inclusive economic development where thousands of jobs are created in the respective jurisdictions. More investments mean more exports and more jobs,” Panga said.
PEZA vowed to strengthen the ease of doing business and digital transformation especially with the inclusion of the economic zone development program in the Philippine Development Plan 2023 to 2028 and in support of the Department of Trade and Industry’s science, technology, innovation-driven industrialization strategy.
The PEZA board approved 27 economic zone development projects for endorsement to the Office of the President in 2022.
