The Philippine Economic Zone Authority (PEZA) and the Bases Conversion and Development Authority (BCDA) have recently sealed an agreement on the delineation of their respective jobs as investment promotion agencies (IPAs) to prevent the overlapping of their functions.

In a statement on Monday, PEZA said its director general, Tereso Panga, signed a memorandum of agreement with BCDA president and CEO Engr. Joshua Bingcang last 11 April 2025 at the BCDA Headquarters in BGC, Taguig — a landmark move to accelerate countryside development.

According to the PEZA statement, the agreement lays the groundwork for both agencies to commit to an interim arrangement to delineate their respective IPA roles.

“BCDA will take the lead in registering and regulating new developer/operator projects in New Clark City, while PEZA will continue to oversee locator projects. This strategic division of roles capitalizes on BCDA’s experience in property development and estate management, and PEZA’s expertise in FDI acquisition, investor retention and most especially its vaunted product in its well-established one-stop-shop services,” the PEZA statement reads.

“By working hand-in-hand, BCDA and PEZA will leverage our expertise to streamline processes, harmonize regulations, and create a more seamless experience for businesses operating within New Clark City. Imagine a future where locators benefit from the strategic urban planning and infrastructure development of BCDA, coupled with the streamlined registration, incentives administration, and export facilitation prowess of PEZA,” BCDA’s Bingcang said after the MOA signing.

The BCDA Group is led by the BCDA and is mandated to transform former military bases and properties into premier centers of economic growth in partnership with the private sector with integrity, excellence, and efficiency in the stewardship of government resources.

It is a government instrumentality vested with corporate powers under Republic Act (RA) 7227 (Bases Conversion and Development Act of 1992), signed into law by former President Corazon C. Aquino on March 13, 1992. The BCDA Charter was amended by RA 7917 in 1995, and further amended by RA 9400 in 2007.

BCDA remains a major force in creating economic opportunities in the country through its establishment of integrated developments, dynamic business centers, and vibrant communities.

Preventing overlaps

For his part, PEZA DG Panga expressed his office’s support stating that, “Through this partnership, PEZA is proud to extend its investor facilitation mechanisms to support Registered Business Enterprises within BCDA-administered economic zones. By combining our institutional strengths with BCDA’s vision of a smart, green, and resilient metropolis, we aim to attract world-class investors, bring in strategic investments, and create meaningful employment for Filipinos.”

Through the said synergy, the collaboration not only eliminates potential jurisdictional overlaps but also harnesses the core competencies of both agencies to create a more conducive investment climate in the Philippines — particularly within the Luzon Economic Corridor.

“It paves the way for building smart metropolises beyond Metro Manila, attracting more investors to the country and bolstering economic growth and job creation,” according to Panga.