The Philippine Economic Zone Authority (PEZA) expects two locators to invest P900 million in the recently proclaimed Victoria Industrial Park in Victoria, Tarlac.
Nephro Plus, a dialysis center network with the backing of the World Health Organization (WHO), committed to investing P500 million to establish 200 additional dialysis centers across the Philippines.
PEZA director-general Tereso Panga encouraged Nephro Plus to locate these centers within the economic zone, emphasizing the potential for “decent, world-class” facilities.
“We are seeing a growing interest from both local and international companies in the Victoria Industrial Park. This attests to the potential of this region as a hub for manufacturing and innovation,” he said during the agreement signing between PEZA and the Food and Drug Administration (FDA) Wednesday.
Greenstone Pharmaceuticals HK Inc., the first locator in the pharmaceutical economic zone and the manufacturer of the well-known KATINKO liniment, plans to add two more factories, each worth P200 million, bringing its total investments to P600 million.
Greenstone chief executive Melissa Yap said the expansion would broaden their product portfolio to include cosmetics and other medical preparations derived from local plants and herbs, with the intention to export to the US and the EU.
Greenstone operates three facilities in Cavite, with the factory in Victoria Economic Zone being the latest addition to its expanding operations.
PEZA is actively engaging with at least 10 Indian companies, five of which expressed interest in establishing operations in Victoria Ecozone.
PEZA offered to assist in expanding the Victoria Ecozone by 30 hectares, adding to the existing 25 hectares to accommodate the growing interest.
Panga said the expansion would attract more locators to the area.
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