Manong Chavit eyes more economic zones to boost job creation, investment

Subic Bay Freeport — Senatorial candidate Luis "Manong Chavit" Singson is aiming to establish an economic zone in every province.

During a press conference held at the Riviera Hotel here on December 30, 2024, Manong Chavit stated that he plans to create economic zones in every province in the country if elected into office.

He said this initiative would generate more jobs and ensure that highly skilled Filipino workers would remain in the country to help boost the economy.

"We want them to help develop our country, rather than them looking for jobs in other countries," he said.

In addition to creating jobs, the creation of economic zones would attract more foreign companies to invest in the Philippines, increasing the number of Foreign Direct Investments (FDIs) here.

"I have done this in Korea; surely other companies can do that in our country. I have confidence that more ecozones would push the boundaries of our country in terms of industrialization," he added.

The former Ilocos Sur governor stated that industrialization is essential for the country to achieve economic growth.

Manong Chavit, who is also the chairman of the LCS Group of Companies, owns two economic zones in South Korea and has been at the forefront of Filipino companies operating abroad.

The former Narvacan mayor said that the K-Beauty Industrial Complex he owns in South Korea will serve as a hub for research, production, and trade in beauty and aesthetic products, aligning with South Korea’s advanced cosmetics industry.

His company, the LCS Group of Companies, has committed a $100 million investment in a residential, commercial, and resort development project on South Korea’s eastern coast. He added that the Mangsang District 1 development project in the East Coast Free Economic Zone (EFEZ) will be the first of its kind in Korea.

LCS Group focuses on property developments in the Philippines but also works in other sectors such as mining, transportation, defense, logistics, and telecommunication towers.

He said that the value of LCS Group real estate across the Southeast Asian country, including Manila, amounts to about 2 trillion won ($1.7 billion), while its gold mines are estimated at around 2.5 trillion won.