‘We anticipate that the ‘Armscor Manufacturing Special Economic Zone’ will not only generate additional income for the local government but also create more employment opportunities for the residents of Marikina City’
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Marikina City Mayor Marcelino Teodoro has signed a resolution approving the development of Armscor Global Defense, Inc. as the Armscor Manufacturing Special Economic Zone.
The mayor said that the Armscor Manufacturing Special Economic Zone will give huge benefits to the local government and would provide additional employment opportunities to Marikina City residents.
Resolution 127 Series of 2024 was sponsored by Marikina City Councilor Donn Carlo Favis and co-sponsored by majority of the council members including Vice Mayor Marion Andres and Councilor Joseph Banzon.
The local chief executive added that the resolution also endorses the project for Philippine Economic Zone Authority (PEZA) registration, positioning it as a manufacturing economic zone.
Teodoro said that Armscor — as a pioneering industry in Marikina City — has created employment opportunities for many residents.
“We recognize the significant benefits and sustainable growth that the ‘Armscor Manufacturing Special Economic Zone’ will bring to Marikina City and its residents, once it is officially designated and registered as a Manufacturing Economic Zone with PEZA,” Teodoro said.
“We anticipate that the ‘Armscor Manufacturing Special Economic Zone’ will not only generate additional income for the local government but also create more employment opportunities for the residents of Marikina City,” he added.
Armscor Global Defense Inc., doing business as Arms Corporation of the Philippines, is currently developing several parcels of land in Barangay Fortune into a manufacturing economic zone project known as “Armscor Manufacturing Special Economic Zone” with a total land area of 71,655.20 square meters.
The resolution stated that it has worked on the submission with the Philippine Economic Zone Authority requirements and currently undertaking important activities for the issuance of the certification as a manufacturing economic zone under Republic Act 7916 or the “Special Economic Zone Act of 1995.”
