P16bn worth of IT investments remain pending due to NCR ecozone ban
Around P16.07 billion worth of investments for information technology (IT) parks and IT centers in Metro Manila remain pending due to the Administrative Order (AO) 18—which bans new ecozone developments in Metro Manila.
“Of the 10 IT Centers endorsed by Peza for the required proclamation, 8 IT Centers with a total investment of P11.41 billion as well as 1 IT Park identified above were returned to Peza with noted deficiencies for rectification,” the Philippine Economic Zone Authority (PEZA) stated.
PEZA Director General Charito Plaza wrote a letter to Malacañang back on May 3, asking President Rodrigo Duterte to lift the ban so that the recently enacted Corporate Recovery and Tax Incentives for Enterprises (CREATE) law would fully take effect.
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