NextGen Day

🏭💼 The Philippine Economic Zone Authority (PEZA) has recommended eight major projects amounting to PHP33 billion to the Fiscal Incentives Review Board (FIRB). These projects were registered with the agency during the year’s first half.

PEZA Director General Tereso Panga stated that economic zone development had significantly increased, surging by 579 percent compared to the PHP4.86 billion worth of projects registered in the first half of 2022. This surge indicates a growing demand for proclaimed areas and a rise in new and expansion projects.

The projects endorsed for ecozone development include three manufacturing ecozones in Cebu, Batangas, and Cavite, an information technology (IT) center in Makati, and four IT parks in Quezon City and South Cotabato.

The most substantial of these endorsed projects is the PHP27.18 billion North Cebu Economic Zone in Medellin, Cebu.

Since the beginning of the Marcos administration, PEZA’s Board has approved 17 ecozone projects with combined investments reaching PHP122.27 billion. These projects include seven manufacturing ecozones, eight IT parks, an IT center, and an agro-industrial ecozone.

These ecozone developments are set to be located in various regions, including Ilocos Region, Central Luzon, Calabarzon, Western Visayas, Soccskargen, and Metro Manila.

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