Luzon Economic Corridor locators’ win —PEZA

Luzon Economic Corridor locators’ win —PEZA | Daily Tribune

With the pronouncement of Japan and the United States working hand-in-hand with the government for massive infrastructure developments in the Southern and Northern parts of the country, dubbed Luzon Economic Corridor, the Philippine Economic Zone Authority aired its backing on the plan, as de-clog and decongest logistical pinch points, serving their locators.

A result of the Philippines, Japan, and US’ trilateral agreement, the Luzon Economic Corridor is seen to support connectivity among Subic Bay, Clark, Manila and Batangas as well as facilitate and anchor strategic investments within each hub in high-impact infrastructure projects, including rail, port modernization, agribusiness, and clean energy and semiconductor supply chains and deployments.

PEZA Director General Tereso Panga declared that PEZA was in full support of the project, seen to strengthen seamless interconnectivity between Central Luzon and the CALABARZON Region.

“Majority of PEZA-registered ecozones are largely within this corridor. There are a total of 137 ecozones operating in Metro Manila, Clark, and Batangas, housing about 1,600 manufacturing, service, and export-oriented companies. As such, we look forward to the infrastructure projects that will strengthen the connections between these industrial export hubs,” expressed the PEZA chief.

Based on PEZA data, the developers and locators of the ecozones account for 56.91 percent of the total commodity exports of the Philippines in 2023.

Panga said these locators have largely contributed to the creation of jobs in the provinces of Cavite, Tarlac, Batangas, Pampanga, and Laguna which have grown and developed significantly throughout the years due to the presence of the economic zones.

Further, the PEZA chief stressed that the projects to be launched in the Luzon Economic Corridor will enhance the paradigm and practice of ease of doing business, further increasing the outputs of companies located within the zones.

Also, he said that there will be redundant and complementary modes of transport to ensure an unimpeded flow of goods, thus strengthening the supply and value chain both locally and globally.

“We are positive that this will de-clog and decongest logistical pinch points in Luzon, which serves as a major challenge to our locator companies and even to potential investors. It will lead to a seamless flow of products and materials from and into the zones, and will also enhance the country’s attractiveness as an investment destination,” he said.

Unveiling new ecozones

With the Luzon Economic Corridor further, Panga said they are already studying and looking at opening new ecozones southward to the Bicol region shortly.

He stressed that the current projects of the Department of Public Works and Highways (DPWH)—Toll Road 4 and Toll Road 5 plus the Asian Development Bank-funded PNR South-Long Haul Railway project — will make the Bicol Region accessible to international trade.

This is besides the fact that the Region already has existing airports at strategic locations that complement these upcoming infrastructure trade highways.

The only major component lacking are international seaports on the Eastern seaboard of the Philippines, he said.

Looking at the next four years, the PEZA chief noted that “Opening up new seaports like Pantao, for one, in the Eastern Seaboard will de-risk trade as well as shorten transport of goods to Taiwan, Korea, the US, Japan, the Americas, Australia, New Zealand and other destinations in the Pacific. It will create new growth areas that will uplift the lives of millions in the region and have an economic impact on South Eastern Visayas as well!”