More revenues are expected to be produced from incoming locators in Balamban, Cebu, following the order of President Ferdinand Marcos Jr. to expand the Philippine Economic Zone Authority (PEZA)-registered special economic zone (SEZ), West Cebu Industrial Park.
Based on Proclamation No. 710, signed by Executive Secretary Lucas Bersamin on 16 October, and announced by Malacañang on 20 October 2024, West Cebu Industrial Park will be expanded, designating several parcels of land, located at Barangays Arpili and Buanoy for inclusion into the SEZ.
The additional land has a total land area of 176,783 square meters or roughly 17.6 hectares, the proclamation stated.
A joint venture between the Aboitiz Group and the Tsuneishi Group of Japan, West Cebu Industrial Park, also known as West Cebu Estate, is hailed as the shipbuilding capital of the Philippines and is recognized as the Best Industrial Development in the country.
Established in 1992, the 540-hectare SEZ hosts a variety of global enterprises, employing over 14,000 skilled Filipinos across medium to heavy industries.
To date, SEZ hosts 11 locators from medium to heavy industries, some of which are the biggest shipbuilding firms in the world.
PEZA thanks OP
Meanwhile, PEZA director general, in an interview, said they elated the Office of the President’s prompt proclamation of the 17.6-hectare area for annexation to the existing West Cebu Industrial Park.
“Aboitiz InfraCapital, the developer of WCIP and West Cebu Economic Estates, has lined up some prospective ecozone manufacturing locators in the said expansion area. This will generate additional jobs, more MSMEs in the surrounding areas, and increased revenues for the host LGU in support of PEZA’s countryside development strategy,” he said.
Further, Panga noted that WCIP’s biggest locator, Tsuneishi Heavy Industries, a global industry leader in shipbuilding, is likewise applying for its 5th expansion.
“This includes the proclamation of additional areas for Tsuneishi’s pioneering production of methanol-fueled bulk carriers in the country. The move by the President was very crucial as it serves as an economic driver for Balamban and Cebu province as a whole,” according to Panga.