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Philippine Economic Zone Authority has approved 33 projects worth about P13.2 billion
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Among those approved, 29 will be located in Luzon while the remaining four will be located in the Visayas and in Mindanao
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For 30 of these projects, 12 projects will be engaged in exports, 11 in information technology, five in facilities, one in logistics, and one in utilities
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Three other projects are classified as economic zone development or operation projects
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PEZA is partnering with the Armed Forces of the Philippines and Philippine Army on developing the first-ever defense industrial complexes in economic zones
The Philippine Economic Zone Authority (PEZA) Board approved on March 11 a total of 33 projects, which will bring in about P13.19 billion in investments and generate 2,447 jobs.
Among the approved projects, 29 will be located in Luzon while the remaining four will be located in Visayas and Mindanao, PEZA said in a statement.
For 30 of these projects, 12 will be engaged in exports, 11 in information technology, five in facilities, one in logistics, and one in utilities.
The three other projects, meanwhile, are classified as economic zone development or operation projects.
The 33 projects cover applications to PEZA from February to March 2021 for approval by the Board.
“The approval of new projects and investments is the agency’s positive action to continuously support the Philippine economy in our endeavor to maintain our competitiveness for investments despite the impact of COVID-19,” PEZA director-general Charito Plaza said.
“We at PEZA are doing our best to become part of the solution during these trying times. We will continue to turn the threats into opportunities and help the Philippines achieve its goal of becoming an investment haven in Asia and around the globe,” Plaza added.
Aside from the approved projects, PEZA is partnering with the Armed Forces of the Philippines (AFP) and its largest branch, the Philippine Army (PA), on the proposed creation of the first-ever defense industrial complexes to be located in economic zones.
The proposed defense industrial complex is a tract of land with defined boundaries located physically and/or administratively outside the customs territory and predominantly oriented toward export production.
PEZA said the defense complex will be producing world-class defense products to meet both domestic and world market requirements.
“At present, we are currently exploring the idea of establishing defense industrial complexes in selected military reservation [areas] across the country. We really need to produce locally our defense requirements and reduce our dependency [on] foreign suppliers,” AFP chief of staff Lt Gen Cirilito Sobejana earlier said.
Plaza noted that PEZA aims to establish different types of economic zones based on the land potential of a region so as to spread development to the countryside, and these include defense industrial complexes.
PA commanding general Lt. Gen Jose C. Faustino, Jr. said creating the proposed defense industrial complexes in economic zones is in line with the Philippine Army’s transformation roadmap to pursue genuine transformation founded on good governance.
Plaza said the PA is currently managing almost 20,000 hectares of military reservation areas, which the Army is now planning to turn into the first defense industrial complexes in the country.
Plaza hopes to invite investors and defense industries to come and manufacture military equipment, software, hardware, uniforms and other supplies for the Philippine military and police.
In 2020, PEZA approved 326 projects worth P95.03 billion in investments, which are lower than the 540 new and expansion projects worth P117.5 billion registered in 2019.
