PEZA approves projects worth over P9.6 billion

MANILA, Philippines — The board of the Philippine Economic Zone Authority (PEZA) has approved 13 projects with a total capital investment of over P9.6 billion.

In a Facebook post, PEZA officer-in-charge and deputy director general for policy and planning Tereso Panga said the PEZA board approved during its meeting two ecozone developer projects worth P2.63 billion, and 11 ecozone locator projects worth P5.97 billion.

Meanwhile, during the PEZA investors day last week, Panga stressed the need for the amendment of the law creating the agency, particularly on the rationalizing of requirements for ecozone proclamations.

“We need to amend the PEZA Law. It’s a 27-year-old law,” Panga said.

The PEZA was created under Republic Act 7916 (as amended by Republic Act 8748) otherwise known as The Special Economic Zone Act of 1995.

“We want the rationalization of our requirements for ecozone proclamation because it’s the only PEZA that goes through the presidential proclamation process,” Panga said.

He said that other agencies, such as the Tourism Infrastructure and Enterprise Zone Authority and the Authority of the Freeport Area of Bataan, could designate areas as ecozones without going through a presidential proclamation.

The PEZA reported earlier this month that there are 13 ecozones as of October that are pending proclamation by the current administration. The ecozones may generate nearly P18 billion worth of investments.

Of the 13 pending ecozones, one, particularly the expansion of the Lima Technology Center in Batangas, has already been endorsed to the Office of the President.  
The remaining 12 ecozones have already been endorsed to the Department of Trade and Industry (DTI).

Among these are the Philtai Central Luzon Industrial Park, Alta I-Hub, MDC 101 office, Ayala Malls Capitol Central, Robinsons Cyberpark Bacolod, Fast Logistics Distribution Center, Felcris Centrale IT Park, Metro CAs Industrial Estates- Special Economic Zones, Quezon Techno-Industrial II Special Economic Zone; and the Naga City Industrial Park.

Also part of the ecozones endorsed to the DTI are the expansion of the Hermosa Ecozone Industry Park and the Kamanga Agro-Industrial Economic Zone.

Panga said the country has seen a slowdown in the number of ecozone proclamation in recent years.

He shared that during the time of former president Gloria Macapagal Arroyo, an average of 34 ecozones were proclaimed annually. During the time of the late president Benigno Aquino III, this was slightly lower at an average of 31 ecozones proclaimed per year.

Panga shared that the PEZA is also in talks with the NEDA to reinstate the ecozone development strategy of the country in the Philippine Development Plan (PDP).