PEZA, DOST team up to boost creation of KIST ecozones

• The Philippine Economic Zone Authority and Department of Science and Technology team up to boost the creation of knowledge, innovation, science and technology ecozones

• PEZA and DOST signed on August 3 a joint memorandum circular on the establishment of KIST ecozones

• The KIST ecozones will be located on campuses of higher education institutions

• The JMC also seeks to transfer idle lands owned by the institutions for use in science, technology and innovation purposes

The Philippine Economic Zone Authority (PEZA) and the Department of Science and Technology (DOST) have teamed up to boost the creation of knowledge, innovation, science and technology (KIST) economic zones.

“KIST Parks will play a significant role in increasing R&D (research and development) infrastructure, fostering collaboration in R&D with foreign partners, facilitating technology transfer, and upskilling our workforce towards innovation,” PEZA Director General Tereso Panga said during the signing of the joint memorandum circular with DOST on August 3.

“Together with the DOST, we can do a lot to boost our knowledge and technology inputs-outputs towards enhancing our global innovation index ranking.”

For his part, Science and Technology Secretary Renato Solidum, Jr. said KIST Parks are “envisioned to be centers for technology transfer and commercialization and a platform to integrate various science, technology, and innovation (STI) initiatives in the regions.”

“They will be integral to the creation and growth of start-ups, spin-offs, and S&T-based firms, complementing the efforts on technology business incubation and acceleration. And this is where science & technology and business will come together,” he added.

KIST ecozones are expected to “open opportunities to business and start-up and spin-off companies to operate in a special economic zone to enjoy fiscal and non-fiscal incentives provided for under the Corporate Recovery and Tax Incentives for Enterprises [CREATE] law and the Innovative Start-up Act,” PEZA said in a statement.

The joint memorandum circular forms the second phase of the memorandum of understanding signed by PEZA and DOST on January 24. The MOU aims to increase the establishment of KIST economic zones, which will be located on higher education institution (HEI) campuses across the country.

Transforming idle lands owned by HEIs into more productive uses catering to STI purposes is also among objectives of KIST ecozones.

The joint partnership intends to set the criteria and procedures for evaluating applications for registration of KIST ecozones and administering incentives to KIST developers/operators and locators under Republic Act (RA) No. 7916 (Special Economic Zone Act of 1995), as amended.

“PEZA and DOST’s landmark MOU paved the way for the establishment of the first-ever KIST Park through the Batangas State University. The PEZA Board has likewise approved three more KIST projects—the University of Perpetual Help’s iAltaHub to be located in Cavite, the De La Salle University Innovation Hub and the Lyceum of the Philippines-Laguna KIST Park to be established in Laguna. And we are looking forward to more KIST parks to be established which will creating an enabling environment for research and development (R&D) and innovation in the hope of locating more patents and prototypes that will lead to commercialization of ecozone high-tech projects,” Panga said.

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