46 Marcos-era ecozones forecast to draw P141.2B in investments

The Philippine government expects 46 economic zones proclaimed under the Marcos administration to attract P141.2 billion in investments and create nearly 189,000 jobs, Executive Secretary Ralph G. Recto announced. Four new proclamations expanding zones in Cavite, Batangas and Negros Oriental are pro

THE 46 economic zones proclaimed during the Marcos administration are expected to attract P141.2 billion worth of investments and generate nearly 189,000 jobs, according to Executive Secretary Ralph G. Recto.

In a statement on Monday, Mr. Recto said four newly-signed proclamations covering economic zones in Cavite, Batangas and Negros Oriental are expected to generate nearly P9.7 billion in fresh investment. Nearly all of the 46 economic zones are located outside Metro Manila, in line with government efforts to develop the provinces, he said. The Metro Manila ecozones number three.

Of the 46, 29 are on Luzon, 12 are in the Visayas and five are in Mindanao, Mr. Recto said. The four newly-proclaimed sites include Proclamation No. 1337, which expands the Suntrust Ecotown Tanza-Special Economic Zone in Tanza, Cavite. The zone has 62 Philippine Economic Zone Authority (PEZA)-registered enterprises employing 6,322 workers. The expansion is expected to attract about P851 million in new investments and create around 2,200 jobs.

Proclamation No. 1338 expands the Light Industry & Science Park IV-Special Economic Zone in Malvar, Batangas. The zone currently has 43 PEZA-registered enterprises employing about 1,769 workers. The expansion has P8.5 billion in committed investments and is expected to create 200 jobs, according to the statement. In Negros Oriental, Proclamation No. 1340 established the Robinsons Dumaguete I.T. Park. A prospective locator is expected to invest P288 million and employ 1,500 workers.

Proclamation No. 1385 established the Biz Hub at LIMA Estate in Lipa City, Batangas as an information technology special economic zone. A prospective locator is expected to invest P52.5 million and employ 110 workers. “With these, businesses can go to where local talent is, boosting local economic activity, without workers having to leave their hometowns for costly and crammed urban centers,” Mr. Recto said.