Another area in Bonifacio Global City (BGC) in Taguig City has been designated as a special economic zone in a proclamation signed by President Rodrigo Duterte. The building, to be known as BGC Corporate Center 2, has been recognized by the president as an economic zone and will be used as an information technology center.
Duterte also signed a proclamation in February declaring a BGC building and a parcel of land, to be known as Milestone, as a special economic zone. The president has declared several areas as IT parks and special economic zones upon the recommendation of the Philippine Economic Zone Authority (PEZA) board of directors.
Economic zones may host industrial estates, export processing zones, free trade zones, and tourist/recreational centers. IT parks are areas that receive the same benefits as those of special economic zones to attract foreign investors who are interested in opening business process outsourcing offices.