Tarlac Governor lauds Marcos’ ecozone initiative in Victoria
PAMPANGA, Philippines – Tarlac Governor Susan Yap, on Monday, July 8, lauded President Ferdinand Marcos Jr.’s recent proclamation designating parts of Victoria town into a special economic zone.
In a statement, Yap said the Victoria development is expected to create more jobs.
Yap said the move aligned with Republic Act 7916, otherwise known as the Special Economic Zone Act of 1995, as amended by RA 8748, which followed the recommendation of the Philippine Economic Zone Authority (PEZA).
Marcos, under Proclamation No. 623, allocated a total of 29.7 hectares in Barangay Baculong to be known as Victoria Industrial Park, said a statement issued by the Presidential Communications Office (PCO) on July 7.
PCO said the locations of the special ecozones were selected for their potential industrial development into agro-industrial, industrial, recreational, commercial, banking, financial and investment hubs to foster economic growth.
PEZA extends assistance to investors and facilitates their business operations in export-oriented manufacturing and service facilities inside selected areas throughout the country.
Earlier this year, PEZA announced a P29.9 billion investment from 73 new and expansion projects. Based on PEZA data, developers and locators within the ecozones contributed about 57% of the Philippines’ total commodity exports last year which provided employment and economic advancement in the provinces of Luzon.
As of April 2023, PEZA oversees a total of 419 economic zones across the country which includes 297 information technology centers, 78 manufacturing zones, 24 agro-industrial zones, 17 tourism enterprises, and three medical tourism centers. – Rappler.com