Home Economy Marcos creates ecozone in Victoria, Tarlac

Marcos creates ecozone in Victoria, Tarlac



PRESIDENT Ferdinand R. Marcos, Jr. has designated a land in Victoria, Tarlac north of the Philippine capital as a special economic zone.

Under Proclamation No. 623, a 297,719-square meter property in Baculong village will be named Victoria Industrial Park.

Special economic zones can be developed into agro-industrial, industrial, tourist and recreational, commercial, banking, investment and financial centers, the presidential palace said in a statement at the weekend.

The development of new ecozones was included in the five-year Philippine Development Plan (PDP) to promote industrial dispersion especially outside metropolitan areas, integrate ecozones into local economies, and boost open trade between zone locators and companies outside the zones.

Under the medium-term plan, the Philippine Economic Zone Authority (PEZA) will expedite the implementation of a transformation roadmap that seeks to expand the types of special economic zones.

There were 419 economic zones in the country as of April 2023, 297 of which are in the information technology sector, according to PEZA.

It said 78 are manufacturing sites, 17 are tourism export enterprises, 24 are agro-industrial economic zones and three are medical tourism parks.

In April, Mr. Marcos created the 404,141-square meter MetroCas Industrial Estates-Special Economic Zone in Tanza, Cavite.

It was among the five proposed economic zones that PEZA had asked to be approved in October.

He also created an IT park along E. Rodriguez Jr. Avenue, Ugong in Pasig City, which is 123,837 square-meter big. — Kyle Aristophere T. Atienza

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