PEZA awaits approval for 13 ecozones
The Philippine Economic Zone Authority (PEZA) is waiting for Malacañang’s approval of the creation of 13 economic zones (ecozones), which are expected to generate P17.92 billion (US$312 million) worth of investments.
During a meeting with the Philippine Ecozones Associations (PHILEA), PEZA OIC and Deputy Director General Tereso Panga revealed that they have already endorsed one of the ecozones to the Office of the President while the rest are endorsed to the Department of Trade and Industry (DTI).
For the breakdown, there are seven pending manufacturing ecozones — two for IT Parks Centers, one for the Knowledge, Innovation, Science, and Technology (KIST) Park, and one agro-industrial ecozone — which are all located outside Metro Manila.
Panga added that he is confident there will be an upturn in ecozones this year as the agency has been getting enough big-ticket projects to recover from the pandemic.
At the same time, Panga thanked PHILEA for their support. “PEZA would not have been a success story without the support from PHILEA,” he added.
Meanwhile, PHILEA President Zaldarriaga said that “PHILEA and PEZA are partners in nation-building.”
From 1995 to March 2022, Zaldarriaga said that the total investments from PHILEA ecozones reached PHP1.13 trillion (US$19.7 billion), generated USD$ 411 billion in exports, and employed 378,395 workers.
