PEZA streamlines ecozone proclamation process

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PEZA streamlines ecozone proclamation process
Cavite Export processing Zone, one of the ecozones managed by the Philippine Economic Zone Authority.
  • Philippine Economic Zone Authority streamlines ecozone proclamation process via a new resolution
  • Board Resolution No. 23-138 allows the director-general to directly endorse prequalified ecozone applications to the Office of the President
  • PEZA says through the resolution, more ecozones can be opened especially in the countryside, making the Philippines ready to accept more foreign investors
  • The resolution will speed up the proclamation of 17 ecozone development projects worth P122 billion that have been approved for 2023

THE Philippine Economic Zone Authority (PEZA) has approved a resolution that streamlines the ecozone proclamation process, making it easier to do business in the ecozones.

Board Resolution No. 23-138, issued on June 23, authorizes the director-general to directly endorse ecozone applications to the Office of the President for presidential proclamation. It takes effect following publication in a newspaper of general publication.

The resolution applies to 17 ecozone development projects with a combined investment cost of P122.27 billion that the PEZA Board approved in the first year of President Ferdinand Marcos Jr.’s administration.

PEZA director-general Tereso Panga said through the resolution, more economic zones could be established, especially in rural areas, effectively making the Philippines ready to accept more investments from global market players, increase exports, create more job opportunities, and hasten countryside development.

The resolution complies with the Ease of Doing Business and Efficient Government Service Delivery Act of 2018 or Republic Act No. 11032.

Under Resolution 23-128, the approval has a retroactive effect on ecozone applications previously pre-qualified by the PEZA Board and awaiting endorsement to the Office of the President or are complying with requirements for a presidential proclamation.

From July 2022 to June 2023, the PEZA Board has approved 17 ecozone development projects with a total investment of P122.274 billion: seven are new and expansion manufacturing ecozones, eight  IT Parks, one IT Center, and one new agro-industrial ecozone.

These will be located in Ilocos Region, Central Luzon, Calabarzon, Western Visayas, SOCCSKARGEN, and National Capital Region.

RELATED READ: PEZA records PhP 80.585 B investments for 1st half of 2023