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President Ferdinand Marcos Jr. has signed two proclamations creating two special economic zones in Pasig City and Tanza, Cavite
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Both signed on April 1, Proclamation No. 512 designates ArcoVia City as an IT park while Proclamation No. 513 creates MetroCas Industrial Estates-Special Economic Zone
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ArcoVia City is a township while MetroCas is a manufacturing ecozone with an estimated project cost is P500 million
President Ferdinand Marcos Jr. has signed two proclamations creating two special economic zones in Pasig City and Tanza, Cavite.
Signed on April 1, Proclamation No. 512 designates several parcels of land with an aggregate area of 123,837 square meters (sqm) located along E. Rodriguez Jr. Avenue, Ugong, Pasig City as an information technology park to be known as ArcoVia City.
Also signed on April 1, Proclamation No. 513 creates MetroCas Industrial Estates-Special Economic Zone with an aggregate area of 404,141 sqm and located at Barangay Calibuyo in Tanza.
According to the Philippine Economic Zone Authority (PEZA), MetroCas Industrial Estates is a manufacturing ecozone developed by Metrocas Properties Inc. with an estimated project cost is P500 million.
It was approved by the PEZA Board on August 1, 2018 and was submitted to the Office of the President for proclamation as a special ecozone on December 2, 2022.
ArcoVia City, meanwhile, is a township developed by Megaworld Corp.
Both ecozones were proclaimed pursuant to Republic Act (RA) No. 7916, or the Special Economic Zone Act of 1995, as amended by RA No. 8748, and upon the recommendation of the Board of Directors of PEZA.
RA 7916, signed into law on February 24, 1995, aims to encourage economic growth through the development of special economic zones.
As of 2023, PEZA hosts 422 ecozones and 4,352 locator companies/projects nationwide.
READ: Marcos proclaims 3 new ecozones; PEZA approved investments up 332%
