MANILA – The Philippine Economic Zone Authority (PEZA) has endorsed to the Fiscal Incentives Review Board (FIRB) eight big-ticket projects worth PHP33 billion that have been registered with the agency in the first half of the year.
In a statement Tuesday, PEZA Director General Tereso Panga said economic zone development thus far jumped by 579 percent from the PHP4.86 billion worth of projects in the first half of 2022.
“This uptick in ecozone development investment is crucial as it indicates a growing demand for proclaimed areas, which is further supported by the rise in new and expansion projects,” he said.
The large investments for ecozone development in the first half of this year include the three manufacturing ecozones that will be located in Cebu, Batangas, and Cavite; one information technology (IT) center in Makati; and four IT parks in Quezon City and South Cotabato.
The biggest of the endorsed projects is the PHP27.18 billion North Cebu Economic Zone in Medellin, Cebu.
According to PEZA, a total of 17 ecozone projects, with total investments of PHP122.27 billion, were approved by its Board since the start of the Marcos administration, seven of which are manufacturing ecozones, eight are IT parks, an IT center, and an agro-industrial ecozone.
These ecozone developments will be located in Ilocos Region, Central Luzon, Calabarzon, Western Visayas, Soccskargen, and Metro Manila. (PNA)
