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The Philippine Economic Zone Authority and Bureau of Corrections signed a MOA toward the development of the country’s first mega economic zone in Palawan
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The MOA allocates an initial area of more than 2,000 hectares of the Iwahig Prison and Penal Farm in Puerto Princesa to turn it into the Palawan Mega Economic Zone
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Both agencies eye PMEZ to be proclaimed by President Ferdinand Marcos, Jr. as an ecozone within the year and be operational before the term of Marcos ends in 2028
The Philippine Economic Zone Authority (PEZA) and Bureau of Corrections (BuCor) signed a memorandum of agreement (MOA) toward the development of the country’s first mega economic zone in Palawan.
PEZA director general Tereso Panga and BuCor director general Gen. Gregorio Pio Catapang, Jr. officially sealed the agreement on January 24, allocating an initial area of more than 2,000 hectares of the Iwahig Prison and Penal Farm in Puerto Princesa, Palawan to be turned into the Palawan Mega Economic Zone (PMEZ).
Both agencies eye PMEZ to be proclaimed by President Ferdinand Marcos, Jr. as an ecozone within the year and be operational before the term of Marcos ends in 2028, PEZA said in a statement.
“We look forward to beginning the master planning and immediately start the development of this ecozone, which will create more employment opportunities for Filipinos, most especially persons deprived of liberty,” Panga said.
For his part, Catapang said he envisions PMEZ to become “clean, green, and technology-driven”, aligning with PEZA’s eco-industrial framework through smart mixed-used townships.
He likewise shared his push to include Palawan in the Luzon Economic Corridor (LEC), which is seen to become the manufacturing hub of the country. The governments of the Philippines, United States, and Japan last April agreed to develop the LEC to accelerate coordinated investments in high-impact infrastructure projects to support connectivity between Subic Bay, Clark, Manila, and Batangas.
“Palawan is the new frontier and we want to generate income for social development and food security,” Catapang said.
Prior to the MOA signing, PEZA and BuCor in January 2024 signed a memorandum of understanding to collaborate in attracting foreign direct investments and in creating economic opportunities by establishing ecozones registered through PEZA in the lands under the jurisdiction of BuCor, such as in Iwahig.
PEZA last year said they seek to transform 25,000 hectares of the Iwahig Prison and Penal Farm to become an eco-industrial township with a self-sustaining community. It will become the first mega ecozone and the fifth public ecozone in the country.
Panga said PMEZ “will become instrumental in attracting emerging and high-value industries like electric vehicle production, advanced manufacturing, green ores processing, nano tech, knowledge-based and AI-driven industries, medical-related industries, and blue industries among others.”
“The impact of this project will be felt all across the Region to include an immediate heightened trade within the context of the BIMP-EAGA (Brunei Darussalam–Indonesia–Malaysia–
