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President Ferdinand R. Marcos, Jr. recently issued Proclamation 821, creating a new special economic zone in Tagbilaran City, Bohol
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Three parcels of land with an aggregate area of 11,237 square meters in Dampas, Tagbilaran City were designated as an information technology park
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Located at the corner of H. Zamora Street and Satellite Road in Dampas village, the IT park will be known as Tagbilaran Uptown IT Hub 2
President Ferdinand R. Marcos, Jr. recently issued Proclamation 821, creating a new special economic zone in Tagbilaran City, Bohol.
Under the decree signed on March 6, three parcels of land with an aggregate area of 11,237 square meters in Dampas, Tagbilaran City were designated as an information technology (IT) park.
Located at the corner of H. Zamora Street and Satellite Road in Dampas village, the IT park will be known as Tagbilaran Uptown IT Hub 2.
Proclamation 821 was issued upon the recommendation of the Philippine Economic Zone Authority’s Board of Directors and by virtue of Republic Act (RA) 7916 or the Special Economic Zone Act of 1995, as amended by RA 8748.
Proclamation 1151 was also issued in 2021, designating a 13,866-square-meter property along Rajah Sikatuna Ave. in Dampas as an IT park now known as Tagbilaran Uptown IT hub.
The Tagbilaran Uptown IT hub is the first IT park in Bohol.
RA 7916, signed into law on Feb. 24, 1995, encourages economic growth through the development of special “ecozones.”
Special economic zones are defined in the law as “selected areas with highly developed or which have the potential to be developed into agro-industrial, Industrial tourist/recreational, commercial banking, investment and financial centers.”
An ecozone may contain industrial estates, export processing zones, free trade zones, and tourist/recreational centers.
IT parks are hubs entitled to all benefits given to special economic zones to make them more attractive to foreign investors who would want to set up business process outsourcing offices.
