Go says lifting IT park moratorium will boost investments

Finance Secretary and investment czar Frederick Go on Friday welcomed President Ferdinand Marcos Jr.'s decision to lift the seven-year moratorium on new information technology centers and IT parks in Metro Manila, saying the move would strengthen the country's investment climate.

Marcos signed Administrative Order No. 45, allowing the processing and evaluation of applications for the establishment of IT Centers and IT Parks in the National Capital Region.

The measure aims to attract more investments, generate jobs, and reinforce Metro Manila's position as the country's leading information and communications technology hub.

Under the order, Marcos amended Administrative Order No. 18, series of 2019, as amended by Administrative Order No. 11, series of 2023, exempting IT Centers and IT Parks from the existing moratorium on new economic zone applications in Metro Manila.

The President said the move recognizes the continued importance of the services sector, particularly the information and communications technology industry, as a key driver of economic growth.

"The Department of Finance supported the adoption of this measure as a strategic enabler for attracting high-value, innovation-driven investments by allowing businesses to locate where talent, infrastructure, and established industry ecosystems are most developed," Go said in a statement.

Go said the government would continue directing fiscal incentives toward priority industries and activities that generate the greatest economic value.

He clarified that developers of new IT Centers and IT Parks in Metro Manila will not be eligible for fiscal incentives. However, qualified Registered Business Enterprises locating in Philippine Economic Zone Authority-registered IT Centers and IT Parks may continue to enjoy incentives, subject to existing investment laws and regulations.

"By directing incentives to enterprises that generate quality jobs, exports, innovation, and higher value-added economic activity, the DOF supports the continued growth of the IT-BPM industry while preserving the integrity of the country's investment incentives framework," Go said.

The order also makes clear that the moratorium on all other economic zone applications in Metro Manila remains in effect.

Marcos likewise directed the PEZA Board to formulate and issue the implementing guidelines needed to carry out the new policy.