Four newly proclaimed economic zones are expected to attract nearly PHP9.7 billion in fresh investments and generate new jobs, bringing to 46 the total number of economic zones created or expanded under the administration of President Ferdinand R. Marcos Jr.
In a statement Monday, Executive Secretary Ralph Recto said the four latest proclamations cover economic zones in Cavite, Batangas and Negros Oriental, supporting the administration’s thrust to spread investments and employment opportunities beyond Metro Manila.
The 46 economic zones are projected to generate PHP141.2 billion in investments and nearly 189,000 jobs, according to Recto.
Twenty-nine of the zones are in Luzon, 12 in the Visayas, and five in Mindanao. Only three are within Metro Manila.
“With these, businesses can go to where local talent is, boosting local economic activity, without workers having to leave their hometowns for costly and crammed urban centers,” Recto said.
“More jobs and opportunities will come to Cavite, Batangas, and Negros Oriental. The economies of our provinces will strengthen, and the livelihoods of our fellow citizens will continue to improve,” he added.
In Negros Oriental, Proclamation No. 1340 established the Robinsons Dumaguete IT Park, which has a prospective locator expected to invest PHP288 million and generate 1,500 jobs.
Under Proclamation No. 1337, several parcels of land in Barangays Punta I and Sahud-Ulan in Tanza, Cavite, were integrated into the existing Suntrust Ecotown Tanza-Special Economic Zone.
The zone currently hosts 62 Philippine Economic Zone Authority (PEZA)-registered enterprises employing 6,322 workers. Its expansion is expected to attract about PHP851 million in investments and generate around 2,200 jobs.
Proclamation No. 1338 expanded the Light Industry & Science Park IV-Special Economic Zone in Malvar, Batangas, which currently has 43 PEZA-registered enterprises employing about 1,769 workers. The expansion is expected to unlock PHP8.5 billion in committed investments and create 200 new jobs.
Meanwhile, Proclamation No. 1385 established the Biz Hub at LIMA Estate in Barangay Bugtong na Pulo, Lipa City, Batangas, as a special IT economic zone. The new park has a prospective locator expected to invest PHP52.5 million and employ 110 workers.
Special economic zones are designated areas where businesses may receive fiscal and non-fiscal incentives, depending on their location and industry. These include industrial estates, export processing zones, information technology parks, and tourism and recreational economic zones.*PNA
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