PEZA lauds proclamation of 2 new economic zones outside NCR

The Philippine Economic Zone Authority (PEZA) on Wednesday lauded the proclamation of two new economic zones in Batangas and Bacolod City by President Ferdinand Marcos Jr. as it is expected to boost economic activity outside Metro Manila.

In a statement, PEZA Director General Tereso Panga said that “the two economic zones will certainly bolster and spread economic growth outside the National Capital Region.”
 
On April 14, Marcos signed Proclamation 200 promulgating a new IT park ecozone at Lacson Street in Banago, Bacolod City, to be known as Robinsons Cyberpark Bacolod, with a projected investment of P777.35 million.
 
The President issued Proclamation 402 on April 19, designating several parcels of land located at Barangays Santiago, Luta Sur, and Bagong Pook in Malvar, Batangas, for the expansion of Lima Technology Center-Special Economic Zone.
 
The expansion is expected to bring in P864.224 million in investments, according to the PEZA chief.
 
The two new economic zones are expected to bring in a total of P1.641 billion worth of investments.

“And with our 10% target growth for 2023, we remain on track in our goal of establishing at least thirty ecozones every year that create centers of economic progress outside the National Capital Region (NCR) to spur countryside development,” Panga said.
 
As of April 19, the PEZA chief said the agency had 20 pending ecozones to be proclaimed by the President. 

The 20 pending ecozones are broken down as follows: 11 IT centers, eight for manufacturing, and one agro-industrial ecozone. 
 
“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. More investments mean more exports and more jobs,” Panga said. —VBL, GMA Integrated News