The Philippine government has taken significant steps to boost the country's economy through the creation of new economic zones and an information technology park. President Ferdinand R. Marcos, Jr. has proclaimed several economic zones and a new IT park in various provinces, marking a major development in the country's economic growth.
The proclamations designate additional land for existing industrial parks and formalize the creation of a new center for technology services. In Proclamation No. 1337, the President designated several parcels of land in Tanza, Cavite, totaling 331,348 square meters, for inclusion in the Suntrust Ecotown Tanza-Special Economic Zone.
This expansion was recommended by the Board of the Philippine Economic Zone Authority (PEZA) as authorized by the Special Economic Zone Act of 1995. The creation of the new economic zone is expected to attract foreign investors and create more job opportunities for the local community.
Another proclamation, No. 1338, designated 308,065 square meters in Malvar, Batangas for the expansion of the Light Industry & Science Park IV-Special Economic Zone. This move is aimed at boosting the country's manufacturing sector and promoting economic growth.
In addition, the President has established the Robinsons Dumaguete I.T. Park in Negros Oriental through Proclamation No. 1340. The new IT park will cover a 60,000-square-meter area within the Dumaguete Business Park and will be governed by the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy Act.
The creation of the new IT park is expected to promote innovation and entrepreneurship in the region, creating more job opportunities and stimulating economic growth.
