Photo taken from: https://qwerty432blog.wordpress.com/2016/12/08/first-blog-post/
PRESIDENT Duterte’s approval of 12 new economic zones in the first half of the year is seen to have secured for the economy more than P6 billion worth of investments at a time the government is struggling to attract capital to the Philippines.
According to the Philippine Economic Zone Authority (Peza), the President’s proclamation of 12 new industrial parks across the country will bring in P6.4 billion of investments. Duterte signed the papers between January and June licensing their operations as economic zones.
Mostly located in Luzon, the first half approvals are made up of nine information technology (IT) centers, two manufacturing zones and one IT park, disclosed Peza Director General Charito B. Plaza on Wednesday.
“Peza is grateful to the President for his wise approval for the proclamation of new ecozones in the country amid the Covid-19 pandemic,” Plaza said. “Once export companies invest in these newly proclaimed ecozones, these will surely multiply investment and economic activities and opportunities in the Philippines.”
“Majority of the new ecozones—composing 67 percent of the total—will be located in Luzon, whereas the other 33.33 percent will be positioned in the Visayas and Mindanao,” she added.
The President issued the proclamations of Abiathar Commercial Complex, TDG Innovation and Global Business Solutions Center, Ayala Bacolod Capitol Corporate Center and Silver City 4, all of which are IT centers, in January. During the same month, he signed the papers of Millennium Industrial Economic Zone, a manufacturing park.
In May and June the Chief Executive authorized IT centers GLAS Office Development, Bench City Center, Ortigas Technopoint Tower 1 & 2, NEX Tower and Robinsons Luisita 2 to operate as economic zones.
During the same period, manufacturing park Davao del Sur Industrial Economic Zone received the green light from Malacañang. IT park Batangas State University Knowledge, Innovation and Science Technology Park also got its presidential nod.
https://businessmirror.com.ph/2020/06/11/p6-billion-business-eyed-in-new-ecozones/
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