MANILA—The Philippine Economic Zone Authority (PEZA) announced significant investments in newly designated economic zones in Iloilo and Batangas, aimed at boosting local economies and employment.
According to Philippines News Agency, President Ferdinand R. Marcos Jr. signed Proclamation Nos. 668 and 670 on August 27, establishing new ecozones at The Grid in Iloilo and an expansion at the LIMA Technology Center in Batangas, with combined investments amounting to PHP1.049 billion. The expansion project at the LIMA Technology Center, valued at PHP856 million, is scheduled for completion by early 2025. This expansion will extend the Lima Technology Center Special Economic Zone (LTC-SEZ) by an additional 31.35 hectares.
The LTC-SEZ, managed by Aboitiz InfraCapital, currently supports 169 locators and has attracted over PHP100 billion in investments, creating 65,000 direct jobs. Meanwhile, The Grid IT Center in Iloilo, encompassing 2,000 square meters, represents an initial investment of PHP193 million. This new IT center is expected to house three IT and business process management (BPM) companies, bringing about PHP10 million in further investments and generating 250 new jobs.
PEZA Director General Tereso Panga emphasized the agency’s role in fostering inclusive and sustainable development through these initiatives. He noted, “In collaboration with other government agencies and industry partners, PEZA furthers its commitment to eco-zoning the Philippines towards inclusive and sustainable development—for the New Philippines.”