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13 economic zone development applications with P17.93 billion worth of potential investors were awaiting proclamation as ecozones as of October 2022
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One pending ecozone has been endorsed to the Office of the President, while 12 have been endorsed to the Department of Trade and Industry
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PEZA OIC Tereso Panga is confident there will be an upturn in investments in 2022 and may even surpass 2019 levels
Thirteen economic zone development applications expected to bring in investments totaling P17.93 billion are pending proclamation as ecozones as of October 2022, according to the Philippine Economic Zone Authority (PEZA).
One of 13 ecozones has been endorsed to the Office of the President, while 12 have been endorsed to the Department of Trade and Industry (DTI), PEZA officer-in-charge and deputy director general Tereso Panga said in a statement.
Of the total, seven are manufacturing ecozones, four are information technology parks/centers, one is a Knowledge, Innovation, Science, and Technology (KIST) Park, and one is an agro-industrial ecozone. All are located outside Metro Manila.
All ecozones, whether new or expansion, are endorsed by the PEZA Board to the DTI for signature, before endorsement to the Office of the President for the issuance of a proclamation delineating the metes and bounds of the ecozone.
Panga, meanwhile, is confident that in 2022, “there will be an upturn as we have been getting big-ticket projects enough to recover and even surpass our 2019 [investment] levels.”
“Just last month, the LISP [Light & Science Industry Park] closed a project with a data center with P3.4 billion of investments. Another big-ticket investment is currently in talks with Suntrust,” he said.
Panga also had said earlier that big-ticket projects from Taiwan and South Korea are “ready to apply and register” with PEZA.
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He also remains confident that the 6% to 7% target increase in investments for 2022 is attainable and that they “must also continuously work with other agencies to promote the creation of more ecozones, particularly in the countryside and new growth areas.”
