MANILA – The province of Bulacan now hosts the country’s first pharmaceutical economic zone at the First Bulacan Business Park (FBBP) in Malolos City.
In a statement Tuesday, the Philippine Economic Zone Authority (PEZA) said the first mixed-use ecozone in the province will host pharmaceutical and information technology support firms.
“We thank President (Rodrigo) Duterte for the proclamation of the First Bulacan Business Park, which is the first pharmaceutical ecozone registered under PEZA,” PEZA director general Charito Plaza said.
Under Proclamation 1070, Duterte declared FBBP as a special economic zone.
Philstar Marketing Development, Inc. is the developer of the FBBP.
The firm invested some PHP571 million for the “Pharma Park of the North”.
Among the pharmaceutical companies that are operating at FBBP include Lloyd Laboratories Inc., Lumar Pharmaceutical, Pascual Laboratories, and Cosmetique Asia.
“The proclamation of FBBP will surely spur pharma-related research, manufacturing, and tourism in the country especially with the Covid-19 (coronavirus disease 2019) global pandemic,” Plaza added.
According to PEZA, FBBP will adopt smart technologies and renewable energy as part of its power mix to meet its locators’ demand for a sustainable business environment.
Plaza said they will promote the creation of more pharmaceutical ecozones in the country.
PEZA added that in addition to the existing medical tourism guidelines, the investment promotion agency will explore the creation of a “Biotechnology Innovative Center” to host leading biotechnological firms and Philippine startups in this field.
“We aim to promote the creation and development of more world-class economic zones in every province in the country in line with the President’s Administrative Order (AO) No. 18. We are partnering up with the different local government units in harnessing the use of lands in their respective jurisdictions by utilizing the overall millions of hectares of idle lands in the country and turning them into green, healthy, and sustainable economic zones,” she said. (PNA)
