Other Government Release

Two new PEZA economic zones proclaimed by Malacañang

Pasay City – The Philippine Economic Zone Authority (PEZA) welcomes President Ferdinand Marcos Jr.’s proclamation of two (2) new economic zones in Batangas Province and Bacolod City.

PEZA Director General Tereso O. Panga was upbeat and said “The two (2) economic zones will certainly bolster and spread economic growth outside the National Capital Region.

On 14 April 2023, The President signed Proclamation No. 200 promulgating a new IT park ecozone at Lacson Street in Banago, Bacolod City to be known as Robinsons Cyberpark Bacolod, with PhP 777.350 million of projected investment.

The President likewise approved Proclamation No. 402 last 19 April 2023, 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 PhP 864.224 million of investments.

Both of these new zones will bring in a total of Php 1.641 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 added.

As of 19 April 2023, PEZA has 20 pending ecozones to be proclaimed by the President. The breakdown of which are: 11 IT centers, 8 manufacturing, and 1 agro-industrial ecozone.

According to PEZA Chief Panga, he is thankful to the President for the recent zone approvals.

He said, “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.”