THE Philippine Economic Zone Authority (PEZA) said it is looking to nearly double the number of new economic zone (ecozone) proclamations to 30 next year.
In a briefing, PEZA Director-General Tereso O. Panga cited the need to push out development to rural areas and bring more small and medium enterprises (SMEs) into the export economy.
“We are very supportive of the plan how (for integrating) more SMEs into the value chain. To do that, we need to promote the creation of more economic zones in the countryside,” Mr. Panga told reporters on Friday.
“(Ecozones) go hand in hand with SME development, including countryside development,” he added.
The investment promotions agency proclaimed 16 ecozones involving investment of P5.637 billion in 2024.
“If we can double (the number of proclamations), then that will definitely stimulate production as well as economic activity, especially in new growth areas,” he said.
PEZA has reported that 27 ecozones proclaimed under the Marcos administration, involving investments worth P9.715 billion.
Mr. Panga added that ecozones need a minimum of 25 hectares and investment of P1 billion to P2 billion.
He said the growth areas for new ecozones include Calabarzon, Region 3, Cebu, and Mindanao.
“The ones really making a big push for this are the (agriculture industry), because they are resource-seeking types of investments,” he added.
He said that PEZA is also looking to expand its portfolio of information technology (IT) parks.
“More IT parks are going into the cities and municipalities,” he added.
PEZA said that it was targeting between P235 billion and P250 billion in investment next year. — Adrian H. Halili