The Philippine Economic Zone Authority (PEZA) and the Bureau of Corrections (BuCor) signed a joint agreement on Nov. 20, 2025 to transfer a portion of the BuCor-administered Iwahig Prison and Penal Farm (IPPF) for development into an economic zone.
PEZA director-general Tereso Panga and BuCor Director General Gregorio Pio Catapang signed the joint memorandum circular (JMC) in Pasay City. The deal covers more than 4,000 hectares that will be integrated into the planned 28,000-hectare Palawan Mega Economic Zone (PMEZ). Senior officials from both agencies witnessed the signing.
PMEZ is envisioned as PEZA’s first mega-scale, government-led eco-industrial township and a crucial component of the wider development plan for Palawan.
The project is expected to support industry expansion, strengthen supply chain linkages and generate up to 480,000 direct jobs once fully operational.
“This partnership shows the heart of a modern BuCor, no longer solely defined by walls and fences, but by what we can contribute to the nation,” Catapang said.
Panga noted that investor interest in PMEZ has increased ahead of the Philippines’ 2025 chairmanship of the Brunei Darussalam–Indonesia–Malaysia–Philippines East ASEAN Growth Area (BIMP-EAGA).
Companies that have opened discussions with PEZA include Thailand’s Charoen Pokphand Group, a Taiwanese aquaculture operator, a Peruvian Stevia producer, a local coconut product exporter and a power generation firm.
BuCor also announced the completion of the terms of reference for its master plan for the area, which PEZA said is expected to serve as a new investment gateway for Palawan and strengthen the country’s positioning in the region.
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