MANILA, Philippines — Director-General of the Philippine Economic Zone Authority (PEZA), Charito Plaza, has urged…
PEZA and PHILEA are optimistic about PH’s competitiveness in emerging ecozones.
As the former convened a consultative meeting on the plans, updates, and main issues on ecozone development on Nov. 9, the Philippine Economic Zone Authority (PEZA) and Philippine Ecozones Associations (PHILEA) are optimistic about the competitiveness of the nation in building new economic zones.
Tereso Panga, the officer in charge of PEZA and deputy director general, stated that “PEZA would not have been a success story without the cooperation from PHILEA” in regard to ongoing efforts to carry out the agency’s purpose of luring investments and implementing the ecozone program nationally.
President Bongbong Marcos’ declaration that he fully supports economic zones that will bring in vital industries and rural development gave him great hope, he said.
The president of PHILEA, Francisco Zaldarriaga, stated that ecozones are also communities that are growing. Community development is another essential component of the ecozones.
In-progress economic zones list
Panga stated that as of October 2022, “PEZA has 13 pending economic zones that we anticipate the present administration will announce. Twelve (12) are already endorsed by the Department of Trade and Industry (DTI), while one (1) is already approved by the Office of President Marcos.
These 13 proposed ecozones, according to Panga, are anticipated to attract investments totaling PHP17.92 billion.
According to the breakdown, there are seven manufacturing ecozones that are still in the works, along with two IT park centers, one KIST park, and one agro-industrial ecozone that are all situated outside of Metro Manila.
“There will be an upturn in 2022,” predicts Panga, “as we have been acquiring big-ticket projects enough to recover and even surpass our 2019 (investment) levels.”
From 1995 to March 2022, according to PHILEA President Zaldarriaga, “Total investments from PHILEA ecozones is around PHP1.13 trillion, generated USD$ 411 billion in exports, and employed 378,395 individuals.”
further upcoming projects
According to Panga, the Light Industry & Science Park (LISP) completed a data center project last month with investments totaling PHP3.4 billion.
He said, “Suntrust and I are actively discussing another substantial investment.”
Panga stated that “PEZA big-ticket projects from Taiwan and South Korea are ready to apply and register with us” during the recent investment summit in those countries.
He is optimistic that “the 6 to 7% objective for 2022 is doable” with vigorous investment promotions. He also believes that “we must constantly collaborate with other authorities to support the construction of more ecozones, particularly in the countryside and new growth areas.”
“PHILEA and PEZA are partners in nation-building,” declared Zaldarriaga.
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