Puerto Princesa City: The Philippine Economic Zone Authority (PEZA) announced a new partnership with the Bureau of Corrections (BuCor) to establish the country’s first mega economic zone in Puerto Princesa City, located in the Palawan province. This initiative marks a significant development for the region, leveraging part of the vast lands of the Iwahig Prison and Penal Farm.
According to Philippines News Agency, the memorandum of agreement (MOA) signed between PEZA and BuCor outlines the transformation of an initial 2,000 hectares of the 25,000-hectare idle land into the Palawan Mega Economic Zone (PMEZ). PEZA Director General Teresa Panga and BuCor Director General Gregorio Pio Catapang Jr. formalized this agreement following a memorandum of understanding (MOU) signed earlier this year on January 30, 2024.
With the MOA in place, Panga stated that PEZA is now moving forward with the master planning of the project. The authority aims to attract developers to the mega ecozone, which is expected to host emerging and high-value industries, including electric vehicle production, advanced manufacturing, green ores processing, nano technology, knowledge-based and AI-driven industries, medical-related sectors, and blue industries.
Panga also expressed the ambition for the PMEZ to become operational during the tenure of President Ferdinand R. Marcos Jr. The establishment of the mega ecozone is anticipated to create jobs for Filipinos and provide employment opportunities for persons deprived of liberty (PDL).
BuCor’s Director General Catapang emphasized the strategic importance of including Palawan in the Luzon Economic Corridor, proposing it as a new manufacturing hub. He highlighted the potential for the ecozone to contribute to social development and food security in the region, positioning Palawan as a new frontier for economic growth.
Previously, Panga mentioned to reporters that the PMEZ is envisioned as a public ecozone, complementing existing PEZA-operated ecozones in Pampanga, Cavite, Baguio City, and Mactan island in Cebu province.
