Manila: Four newly proclaimed economic zones are anticipated to draw nearly PHP9.7 billion in fresh investments and create new jobs, increasing the total number of economic zones created or expanded under the administration of President Ferdinand R. Marcos Jr. to 46.
According to Philippines News Agency, Executive Secretary Ralph Recto announced that the latest proclamations cover economic zones in Cavite, Batangas, and Negros Oriental. This move supports the administration's goal to distribute investments and employment opportunities beyond Metro Manila.
The 46 economic zones are expected to generate PHP141.2 billion in investments and nearly 189,000 jobs, Recto highlighted. Of these zones, 29 are located in Luzon, 12 in the Visayas, and five in Mindanao, with only three situated within Metro Manila.
Recto emphasized that the establishment of these zones allows businesses to access local talent, thereby boosting local economic activity without requiring workers to relocate to expensive and crowded urban centers. He stated, "More jobs and opportunities will come to Cavite, Batangas, and Negros Oriental. The economies of our provinces will strengthen, and the livelihoods of our fellow citizens will continue to improve."
Proclamation No. 1337 integrates several parcels of land in Barangays Punta I and Sahud-Ulan in Tanza, Cavite, into the existing Suntrust Ecotown Tanza-Special Economic Zone. This zone currently hosts 62 Philippine Economic Zone Authority (PEZA)-registered enterprises, employing 6,322 workers. Its expansion is expected to attract about PHP851 million in investments and generate around 2,200 jobs.
Proclamation No. 1338 expands the Light Industry and Science Park IV-Special Economic Zone in Malvar, Batangas, which currently has 43 PEZA-registered enterprises employing about 1,769 workers. The expansion is projected to unlock PHP8.5 billion in committed investments and create 200 new jobs.
In Negros Oriental, Proclamation No. 1340 establishes the Robinsons Dumaguete IT Park, which has a prospective locator expected to invest PHP288 million and generate 1,500 jobs. Meanwhile, Proclamation No. 1385 establishes the Biz Hub at LIMA Estate in Barangay Bugtong na Pulo, Lipa City, Batangas, as a special IT economic zone. This new park has a prospective locator expected to invest PHP52.5 million and employ 110 workers.
Special economic zones are designated areas where businesses may receive fiscal and non-fiscal incentives, depending on their location and industry. These include industrial estates, export processing zones, information technology parks, and tourism and recreational economic zones.
