The Philippine Economic Zone Authority (PEZA) said six economic zones with a combined value of P5 billion are awaiting official proclamation by the Office of the President.
The ecozones are poised to attract further investments and create employment opportunities once operational, PEZA said in a statement.
It said two ecozones are slated for development in Cavite, a province known for its proximity to Metro Manila and its growing industrial sector.
The other four ecozones will be established in Pampanga, Tarlac, Ilocos Sur and Cebu, further expanding the reach of economic development across Luzon and the Visayas.
Once operational, the ecozones are expected to create thousands of jobs, providing livelihood opportunities for Filipinos and contributing to poverty alleviation.
PEZA said the establishment of ecozones in various regions contributes to the decentralization of economic growth, reducing the concentration of economic activity in Metro Manila.
Ecozones offer attractive incentives to foreign investors, including tax breaks, simplified import-export procedures and a dedicated business environment.
Ecozones focus on promoting export-oriented industries, contributing to the country’s export earnings and improving its balance of trade.
