New ecozones are declared by PBBM in Batangas and Bacolod.
President Ferdinand R. Marcos Jr. has established two new economic zones in Batangas province and Bacolod City, which are anticipated to attract investments worth a combined PHP1.64 billion, according to a report from the Philippine Economic Zone Authority (PEZA) on Tuesday.
According to a statement from PEZA, Proclamation 200, which was signed on April 14, designates Robinsons Cyberpark Bacolod as a new information technology (IT) park in Banago, Bacolod City, and Proclamation 402, which was signed on April 19, approves the growth of the Lima Technology Center – Special Economic Zone in Malvar, Batangas.
The anticipated investment for the IT park in Bacolod is PHP777.35 million, whereas the estimated cost of the Lima Technology Center extension was PHP864.22 million.
Tereso Panga, director general of PEZA, stated that “the two economic zones will unquestionably bolster and spread economic growth outside the National Capital Region (NCR)”.
Twenty ecozone projects, including 11 information technology centers, eight manufacturing ecozones, and one agro-industrial ecozone, according to Panga, are awaiting the President’s permission.
“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 NCR to spur countryside development,” he continued.
The PEZA director reaffirmed that ecozones are seen by the Marcos administration as engines for inclusive growth that are anticipated to create jobs, particularly in rural areas.
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