Twenty-seven proclamations for new/expansion of economic zones with a total investment cost of P9.176 billion were so far approved under the administration of President Ferdinand Marcos, Jr.
Of the total, 11 proclamations with an investment cost of P3.538 billion were approved in 2023 and 16 proclamations worth P5.637 billion signed this year
For 2024, PEZA has 23 registered business enterprises with big-ticket project investments worth P1 billion and above
Twenty-seven proclamations for new/expansion of economic zones with a total investment cost of P9.176 billion were so far approved under the administration of President Ferdinand Marcos, Jr., according to the Philippine Economic Zone Authority (PEZA).
Of the total, 11 proclamations with an investment cost of P3.538 billion were approved in 2023 and 16 proclamations worth P5.637 billion were signed this year, according to the presentation of PEZA director general Tereso Panga in a media briefing on December 16.
The proclamations are mostly for manufacturing ecozones or information technology (IT) parks/centers; one is an agro-industrial zone expansion.
The proclamation by the President of new and expansion of ecozones was recommended by the PEZA Board and is pursuant to Republic Act (RA) No. 7916, or the Special Economic Zone Act of 1995, as amended by RA No. 8748.
RA 7916, signed into law on February 24, 1995, aims to encourage economic growth through the development of special economic zones.
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