-
The Philippine Economic Zone Authority and the Bases Conversion and Development Authority have adopted an interim agreement to separate their investment promotion agency functions
-
Under the agreement, BCDA will handle the registration and regulation of new developer/operator projects in New Clark City
-
PEZA will oversee locator projects and provide its established one-stop-shop services
-
The agreement prevents jurisdictional overlaps and leverages BCDA’s expertise in estate development and PEZA’s investment facilitation capabilities
-
PEZA will also assist BCDA with project registration and the administration of fiscal and non-fiscal incentives
The Philippine Economic Zone Authority (PEZA) and the Bases Conversion and Development Authority (BCDA) have adopted an interim agreement to separate their investment promotion agency functions.
Under the arrangement, BCDA will be responsible for registering and regulating new developer and operator projects within New Clark City, while PEZA will oversee locator projects, ensuring smooth business operations for investors.
The approach prevents jurisdictional overlaps and maximizes each agency’s expertise—BCDA’s strength in property development and estate management and PEZA’s well-established one-stop-shop services.
Beyond the role separation, PEZA has also committed to assisting BCDA with project registration and handling fiscal and non-fiscal incentive administration.
Panga in a statement emphasized the significance of the collaboration, stating, “This partnership between PEZA and BCDA not only prevents jurisdictional overlaps between the two investment promotion agencies but also capitalizes on our core competencies to attract more investors to the Philippines, particularly along the Luzon Economic Corridor.”
Bingcang, for his part, said, “BCDA looks forward to a fruitful collaboration with PEZA as we combine our strengths in infrastructure development and public-private partnerships with investment facilitation. For new investors, we are ready to assure that flagship projects such as New Clark City will greatly benefit from PEZA’s trademark ease of doing business..”
