PH adds 16 new economic zones
MANILA, PHILIPPINES – Malacanang recently proclaimed 16 new economic zones with investments totaling P18 billion, according to the Philippines Economic Zone Authority (PEZA).
Department of Trade and Industry (DTI) chief and PEZA chairman Alfredo Pascual earlier endorsed new ecozones to President Ferdinand “Bongbong” Marcos Jr. for approval. According to PEZA officer-in-charge (OIC) Tereso Panga, these were already approved.
The new ecozones are expected to catalyze investments and generate jobs, exports, countryside development, technology transfer, increased revenues for local and national governments, and other economic opportunities for the country.
PEZA reported that in 2022, 29 new ecozones and ecozone expansion projects were approved totaling P96.2 billion in fresh investments. The new approvals are in various stages of development in compliance with presidential proclamation requirements.
