The Philippine government has taken a significant step to enhance local economies by proclaiming new economic zones. President Ferdinand R. Marcos, Jr. announced the expansions in Cavite and Batangas, as well as the establishment of an IT park in Negros Oriental.
Details of the Proclamations
This expansion was recommended by the Board of the Philippine Economic Zone Authority (PEZA) as authorized by the Special Economic Zone Act of 1995.
Presidential Communications Office
- Proclamation No. 1337: 331,348 square meters in Tanza, Cavite for Suntrust Ecotown.
- Proclamation No. 1338: 308,065 square meters in Malvar, Batangas for Light Industry & Science Park IV.
- Proclamation No. 1340: 60,000 square meters for Robinsons Dumaguete IT Park.
The newly designated areas aim to provide a boost to the local economy by attracting technology-focused businesses and creating jobs. The IT park in Dumaguete will be governed by the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy Act.
All three proclamations were signed by Acting Executive Secretary Ralph G. Recto on July 6, reflecting the government's commitment to regional development and investment.