Bacolod City – A resolution endorsing the application of Megaworld Corporation to register a portion of The Upper East project as an Information Technology (IT) Park with the Philippine Economic Zone Authority (PEZA), was approved by the Bacolod Sangguniang Panlungsod recently.
The resolution authored by Councilor Al Victor Espino said that pursuant to the Guidelines on the Registration of IT Enterprises and the Establishment and Operation of Parks/Buildings, the favorable endorsement of the concerned Sangguniang Panlungsod of the proposed IT parks/buildings is one of the requirements for the PEZA Board to consider the proposed IT park or building.
Megaworld Corporation intends to register and have a portion of The Upper East project totaling an area of 339,555 square meters in Barangay 27, 41 and Villamonte, Bacolod City declared as an IT Park, it said.
The State recognizes the indispensable role of the private sector and encourages the establishment and operation of private enterprises, and therefore, provide incentives to attract needed investments like those authorized by PEZA, the resolution said.
It is the policy of the City Government of Bacolod to promote the participation of the private sector as its partner in the pursuit of the local government’s economic development and self-reliance, it said.
The resolution said the establishment of The Upper East as an IT Park and the IT buildings to be developed in it, is consistent with the pursuits of the local government and the law, and potentially prove beneficial to the economy and communities neighboring said project as it will attract foreign and domestic investment, generate employment opportunities, and increase the country, especially the locality’s economic activities, the resolution added. (Chrysee Semillano via The Visayan Daily Star (TVDS), photo courtesy of TVDS)
