September 2, 2024 | 12:00am
MANILA, Philippines — President Marcos has declared an area in Iloilo City that comprised a building and parcels of land as a special economic zone, and expanded the Lima Technology Center-Special Economic Zone in Batangas to attract more foreign investors.
The declaration and expansion of the special economic zones were contained in separate proclamations issued upon the recommendation of the board of directors of the Philippine Economic Zone Authority (PEZA), and signed by Executive Secretary Lucas Bersamin on Aug. 27.
PEZA aims to establish the legal framework and mechanisms in integrating, coordinating, plan ning and monitoring industrial estates, parks, export processing zones and other economic zones.
It also seeks to promote the flow of investors into these special economic zones, which in turn will create jobs and establish linkages among industries.
Proclamation 668 seeks to create and designate a building and parcels of land in Barangay San Rafael, Mandurriao district as an information technology center.
Meanwhile, Proclamation 67 involved several parcels of land in Barangay Bagong Pook in Malvar, Batangas that would be tapped for the expansion of the Lima Technology Center-Special Economic Zone.
As of April 2023, the country has 419 economic zones, 297 of which are operating as information technology parks or centers, according to data provided by the PEZA.
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