Marcos declares land parcel in Tarlac City a special economic zone

President Ferdinand Marcos Jr. has declared a parcel of land in a barangay in Tarlac City a Special Economic Zone (SEZ).

Proclamation No. 701 designated a two million-square-meter area in Barangay Lourdes as an SEZ, pursuant to Republic Act 7916, or the Special Economic Zone Act of 1995, and following the recommendation of the Board of Directors of the Philippine Economic Zone Authority (PEZA).

The new SEZ will be known as the TARI Estate.

Proclamation No. 701 was issued on October 2, 2024. — VBL, GMA Integrated News