PEZA greenlights 4 IT parks for 2023
MANILA, PHILIPPINES — The Philippine Economic Zone Authority (PEZA) gave preliminary approval to eight significant ecozone development ventures set to roll out in the first half of 2023.
These initiatives, cumulatively valued at PHP33.002 billion (US$607 million), are subject to final approvals and proclamations before formalizing the Registration Agreement (RA) with PEZA.
Four of the eight projects given preliminary approval are IT Parks, earmarked for construction with a total investment of PHP1.474 billion (US$27 million). Three parks are planned for Araneta City, Quezon City, with the fourth slated for South Cotabato City.
Additionally, an IT Center with an investment of PHP4.116 billion (US$75.7 million) is lined up for development in Makati City.
These ventures are part of the broader portfolio of 17 ecozones sanctioned by the PEZA Board in the initial year of the PFRM administration, with an overall investment estimation of PHP122.274 billion (US$2.25 billion).
PEZA Director General Tereso Panga underscored the remarkable 579.23% annual growth in investment for these projects.
The PEZA Board also passed Resolution No. 23-138 to simplify operations within ecozones. This measure aims to facilitate the application, proclamation, and registration process for new and expanding ecozone projects, spurring further investments, amplifying exports, and generating job opportunities, especially in rural areas.
“As we are now beefing up our Agency to continuously enhance our delivery of services and facilitate faster ecozone proclamations to provide ready-for-occupancy sites for our agile locators, it is high time for PEZA to amend its guidelines for a simplified application, proclamation, and registration process for new and expanding ecozone developer/operator projects,” Panga added.
