The Philippine Economic Zone Authority (PEZA) is fast-tracking the development of new economic zones across the country, with four new sites approved in the first half of the year, including two manufacturing expansions in Batangas and two new IT parks in the Visayas.
“As a medium-term strategy under the Philippine Development Plan, the ecozones will play a vital role in attracting the much-needed investments in the country, generating more jobs for Filipinos, and contributing in accelerating the nation’s socio-economic progress,” PEZA Director General Tereso Panga said.
PEZA reported that two expansion areas in Malvar, Batangas have been added to the Lima Technology Center (LTC), totaling over 42 hectares. The first, covering 23.49 hectares in barangays Bagong Pook and Luta Sur, was designated through Proclamation 910, with over P980 million in committed investments and completion expected by 2027. The second, approved earlier through Proclamation 846, added 19.23 hectares to the LTC.
Greater IT sector reach
In the Visayas, the agency is expanding its reach in the IT sector. A 33.96-hectare IT Park in Barangay 41, Bacolod City — now known as The Upper East — is projected to attract about P1 billion in investments for two IT buildings and generate more than 2,500 jobs. Five IT-BPO companies are expected to operate in the area, according to PEZA.
Meanwhile, in Bohol, the Tagbilaran Uptown IT Hub 2 was formalized on 8 May with the signing of its registration agreement. Proclamation 821 designated three parcels of land in Dampas, Tagbilaran City, with a total area of 11,237 square meters, as an IT Park. The project is expected to bring in over P200 million in investments.
The combined value of projected investments for the two expansions at Lima Estate exceeds P1.4 billion, while The Upper East and the Tagbilaran IT park are set to bring in about P1.6 billion and over P200 million, respectively.
PEZA noted that 32 ecozones have been proclaimed under the current administration, totaling P13.406 billion in investment pledges.