The Philippine Economic Zone Authority (PEZA) and Megaworld Corp. signed an agreement on May 21, 2024 officially designating Arcovia City as a certified IT park.
“Megaworld’s commitment to nation-building is evident through their active participation in the country’s ecozone program. By establishing new zones, we can host global players in the IT-BPM industry, thereby giving more opportunities for Filipinos,” said PEZA director-general Tereso Panga.
Megaworld’s chief strategy officer Kevin Tan emphasized the partnership’s role in strengthening the Philippines’ position as a top investment destination as he sees ecozones as key drivers of growth.
Both parties aim to generate interest, engage and entice housing more local and international investors through the establishment of cutting-edge ecozones.
They expressed the shared dedication to advancing the ecozone initiative, which ultimately contributes to the nation’s economic growth and job creation for Filipinos.
Arcovia City’s designation as an IT park is one of 13 proclaimed by President Marcos Jr. in the first half of 2024. These designations represent a total investment of P4.85 billion.
PEZA said Megaworld’s participation is expected to inspire other real estate developers to join the government’s ecozone program.
Megaworld, with its affiliates, manages nine economic zones. The economic zones house 221 registered businesses that generated $3.29 billion in exports in 2023 and employ over 160,000 Filipinos.
