MANILA — President Ferdinand R. Marcos Jr. has endorsed significant developments in the energy and economic sectors, granting a new 25-year franchise to Romblon Electric Cooperative, Inc. (Romelco) and establishing two new economic zones in Iloilo City and Batangas.
According to Philippines News Agency, President Marcos signed Republic Act 12020 on August 29, authorizing Romelco to manage and distribute electric power in the municipalities of Banton, Corcuera, and Concepcion in Romblon. The law mandates Romelco to deliver electricity to consumers efficiently and cost-effectively, marking a pivotal step towards enhancing infrastructure and utility services in these island communities.
Furthermore, the President issued Proclamation Nos. 668 and 670 on August 27, following recommendations from the Philippine Economic Zone Authority (PEZA). Proclamation No. 668 designates a building and its surrounding parcels of land in Mandurriao, Iloilo City as an Information Technology Center, named “The Grid.” This initiative aims to foster growth in the region’s tech industry.
Proclamation No. 670 expands the existing Lima Technology Center-Special Economic Zone in Malvar, Batangas, increasing its capacity to attract and support various technological and industrial enterprises. These zones are part of a broader strategy to promote the Philippines as a key destination for foreign investment in technology and manufacturing sectors.
PEZA currently oversees 419 economic zones across the country, with 297 of them being information technology parks or centers. These zones play a crucial role in the national strategy to stimulate economic growth and create employment opportunities.