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Twenty-seven proclamations for new/expansion of economic zones with a total investment cost of P9.176 billion were so far approved under the administration of President Ferdinand Marcos, Jr.
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Of the total, 11 proclamations with an investment cost of P3.538 billion were approved in 2023 and 16 proclamations worth P5.637 billion signed this year
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For 2024, PEZA has 23 registered business enterprises with big-ticket project investments worth P1 billion and above
Twenty-seven proclamations for new/expansion of economic zones with a total investment cost of P9.176 billion were so far approved under the administration of President Ferdinand Marcos, Jr., according to the Philippine Economic Zone Authority (PEZA).
Of the total, 11 proclamations with an investment cost of P3.538 billion were approved in 2023 and 16 proclamations worth P5.637 billion were signed this year, according to the presentation of PEZA director general Tereso Panga in a media briefing on December 16.
The proclamations are mostly for manufacturing ecozones or information technology (IT) parks/centers; one is an agro-industrial zone expansion.
The proclamation by the President of new and expansion of ecozones was recommended by the PEZA Board and is pursuant to Republic Act (RA) No. 7916, or the Special Economic Zone Act of 1995, as amended by RA No. 8748.
RA 7916, signed into law on February 24, 1995, aims to encourage economic growth through the development of special economic zones.
The manufacturing zones proclaimed in 2023 include Lima Technology Center expansion in Malvar, Batangas; Hermosa Ecozone Industrial Park expansion in Hermosa, Bataan; Philtai Central Luzon Industrial Park in Magalang, Pampanga; and Naga City Industrial Park in Naga City.
New IT parks are Robinsons Cyberpark Bacolod in Bacolod City, and Felcris Centrale IT Park in Davao City; IT centers include ECCO 4 Building in Baguio City; Lopue’s Mandalagan IT Center in Bacolod City; and Marina Town Dumaguete in Negros Oriental.
The expansion of Kamanga Agro Industrial Economic Zone in Maasim, Sarangani was the lone agro-industrial ecozone proclaimed.
Manufacturing ecozones proclaimed this year include MetroCas Industrial Estates-Special Economic Zone in Tanza, Cavite; Victoria Industrial Park in Victoria, Tarlac; Gateway Business Park expansion in General Trias, Cavite; NDC Industrial Estate in Dasmariñas, Cavite; TARI Estate in Lourdes, Tarlac; and West Cebu Industrial Park expansion in Balamban, Cebu.
The IT parks are Sevina Park Commercial in Biñan City, Laguna; ArcoVia City in Pasig City, Metro Manila; Taft East Gate in Cebu City; and Tupi IT Park in Tupi, South Cotabato; while the IT centers include The Grid in Mandurriao, Iloilo City; and Xentromall Antipolo in Antipolo, Rizal.
For this year, Panga said PEZA also has 23 registered business enterprises with big-ticket project investments worth P1 billion and above.
The top ones are: Elmer Francisco Motor Corp. (P52.511 billion) in Jose Panganiban-Special Economic Zone in Camarines Norte; Samsung Electro-Mechanics Philippines Corp. (P50.650 billion) in Calamba Premiere International Park-Special Economic Zone; Tarlac Terra Ventures, Inc. (P12.370 billion) in Tarlac Terrapark; Sunpower Philippines Manufacturing Ltd. (P8.857 billion branch office) in Laguna Technopark-Special Economic Zone; and VS Industry Philippines, Inc. (P4.432 billion) in Light Industry and Science Park III-Special Economic Zone in Batangas.
Samsung Electro-Mechanics Philippines is the top foreign investor from January-November 2024, followed by Taiyo Yuden (Philippines), Inc., and Sunpower Philippines.
Meanwhile, the top domestic investor is Elmer Francisco Motors then Tarlac Terra Ventures, and SteelAsia Concepcion Works, Inc.
The top three foreign exports for the period are TI (Philippines), Inc., Philippine Associated Smelting & Refining Corp., and Amkor Technology Philippines Inc.
Accenture, Inc.; Concentrix CVG Philippines, Inc.; and Telephilippines Inc are the top three job generators.
The top three sectors in terms of amount of investments from January to November 2024 are computer, electronic & optical products (P68.734 billion); motor vehicles, trailers & semi-trailers (P56.024 billion), and electrical equipment (P6.727 billion).
For the same period in review, the PEZA Board approved P201.551 billion worth of investments, surpassing the full-year 2024 target of P200 billion and an increase of 14.7% from the P175.71 billion total for the whole of 2023.
The investment approval for the first nine months of the year covers 239 new and expansion projects, expected to generate over $3.9 billion in export revenues and provide direct jobs to more than 70,000 Filipinos.
Still, Panga said the PEZA Board is expected to approve an additional P13.45 billion worth of investments in its last meeting for the year scheduled for December 17. With this, PEZA is expected to approve a total of around P215 billion worth of investments for 2024, the highest annual approved investments since 2018. – Roumina Pablo
