PRESIDENT Ferdinand R. Marcos Jr.’s proclamation of two new economic zones in Batangas Province and Bacolod City will “certainly bolster and spread economic growth” outside the National Capital Region, according to the Philippine Economic Zone Authority (Peza).
Peza said these new ecozones will bring in P1.641 billion worth of investments to the country.
On April 14, Peza said the president signed Proclamation No. 200 promulgating a new IT park ecozone at Lacson Street in Banago, Bacolod City, to be known as Robinsons Cyberpark Bacolod, which Peza said has P777.350 million worth of projected investment.
Likewise, the investment promotion agency said Marcos approved Proclamation No. 402 last April 19, designating several parcels of land
located at Barangays Santiago, Luta Sur, and Bagong Pook in Malvar, Batangas for the expansion of the Lima Technology Center-Special Economic Zone. The expansion is expected to bring P864.224 million of investments, Peza said.
With these proclaimed ecozones, Peza Director General Tereso O. Panga expressed optimism the agency is on track to hitting its target growth of 10 percent for 2023.
“And with our 10-percent target growth for 2023, we remain on track in our goal of establishing at least 30 ecozones every year that create centers of economic progress outside the National Capital Region [NCR] to spur countryside development,” the Peza chief stressed.
As of April 19, 2023, Peza said it has 20 pending ecozones to be proclaimed by the President. Of these 20 pending ecozones, there are 11 IT centers, 8 manufacturing, and 1 agro-industrial ecozone.
Panga noted, “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.”
The Peza chief stressed that more investments mean more exports and more jobs.
Meanwhile, Peza recorded P12.537 billion worth of investments for the first quarter of 2023, a 53.99-percent increase from the P8.141 billion in approved investments recorded from the same period in 2022.
These investments came from the approved 42 new and expansion projects of ecozone locators and developer/operators for the first quarter of the year.
Panga earlier said this surge in investments—an over 50 percent increase compared to the January-March 2022 period—is an “indication that we are on the right track in achieving our 10-percent target this year.”
In February, Peza Deputy Director General (DDG) for Operations Vivian S. Santos said year on year, the investment promotion agency expects to “operationalize” at least one to three new ecozones.
Santos explained that before ecozones get operationalized, they have to seek or be issued with a proclamation by the Office of the President.