The Philippine Economic Zone Authority (PEZA) said that it has approved the registration for the PHP 125-billion (USD 2 .4 billion) Quezon Techno-Industrial Special Economic Zone (QTISEZ) project, which will be the largest economic zone in the country. Local firm Achievement Realty Corp. (ARC) will be developing the 1,836-hectare QTISEZ located in Barangays Rosario and San Jose in the town of Mauban in Quezon province.
PEZA informed that ARC is allocating PHP 75 billion (USD 1.4 billion) for ecozone development, and PHP 25 billion (USD 477.1 million) each for its own international seaport and airport which will be the first international airport and seaport to be strategically located in the Eastern part of Luzon.
With the aim of making QTISEZ a township, around 200 hectares shall be dedicated to mixed-use for the establishment of government offices, residential, commercial, and other sectors where people can live, work, and play. ARC said the company is already in talks with foreign and local investors that will be their potential partners in developing the country’s biggest ecozone which is expected to house some 2,000 factories and create 200,000 jobs.
QTISEZ is expected to further boost the cooperation of the Philippines with foreign companies and investors. Recently, the US announced that it looks forward to closer economic cooperation with the Philippines as both countries plan for a post-pandemic future. Potential areas of cooperation between both countries could be in clean energy, information technology, and supply chain resilience. Philippine Ambassador to the US Jose Manuel Romualdez, for his part, said the Philippines would continue to pursue its current priorities on climate change and clean energy transition, including enhancing its participation in the global supply chain and improving its digital economy environment in which it seeks engagements from the US.
(Sources: PEZA; Philippine News Agency)
