The Philippine Economic Zone Authority (PEZA) has praised the proclamation of Tagbilaran Uptown Information Technology (IT) Hub 2 as a newly registered IT Park on 6 March, highlighting its potential to significantly boost Bohol’s economic development.

This presidential declaration aligns with PEZA’s ambitious goal for the year to establish 30 new ecozones, with an estimated investment of P60 billion for their development. Marking the first ecozone proclamation of 2025, Proclamation 821 designates three parcels of land totaling approximately 11,237 square meters in Barangay Dampas, Tagbilaran City, to be developed into the Tagbilaran Uptown IT Hub 2, further solidifying the region’s growth trajectory.

To employ more than 100 workers, the IT Park is expected to finish development within the year. It will host companies in various IT-BPM services, with one prospective locator expected to employ more than 500 Filipinos and invest above P70 million.

This is the second ecozone development project of Tagbilaran Uptown Realty Corp.

Its first project, Tagbilaran Uptown IT Hub is a 13,866-sqm IT Park located in Dao District, Tagbilaran City, Bohol, which was granted an ecozone status on 1 June 2021 under Proclamation 1151.

As of 2024, Tagbilaran Uptown IT Hub 1 is home to one IT-BPM company injecting above P190 million and employing more than 1,400 Filipino workers.

With PEZA’s pivotal role in facilitating the establishment of these zones, Bohol holds the potential to become a vibrant hub of economic activity, further solidifying the Philippines as a premier investment destination in the region.

More ecozones in pipeline

Last month, PEZA Director General Tereso Panga said the agency is planning more ecozones in new growth areas to further spur countryside development and help small and medium enterprises (SMEs) form an efficient value chain.

Each ecozone has a minimum area of 25 hectares and entails development costs ranging from P1 billion to P2 billion. The new ecozones will be located in Calabarzon, Region 3, Cebu, and Mindanao.

Panga added that in Mindanao, the target areas are agriculture and green ores such as nickel.

“During the site selection of investors, if we don’t have land to offer, especially ecozones, easily, we lose out to competitors in the region. We must be able to provide areas that match their type of business,” Panga said.

He also emphasized that increasing the number of ecozones could significantly enhance production and economic activities within the country.

The establishment of these ecozones is expected to create thousands of jobs and boost the Philippines’ export capacity.

The new ecozones are projected to create thousands of jobs, directly benefiting local communities.

For instance, recent approvals for three ecozones are expected to generate around 600 jobs immediately.

Under Marcos Jr.’s administration, 27 ecozones have already been proclaimed, with total investments estimated at P9.715 billion.

To date, there are 427 operating economic zones in various locations across the Philippines, all part of President Marcos’ push for nationwide economic growth.