The Philippine Economic Zone Authority (PEZA) has approved a total of 29 ecozone projects in 2022 amounting to USD 1.76 million, 11 of which were registered during the first six months of the Marcos administration. PEZA is optimistic about securing more such approvals, as President Ferdinand R. Marcos targets ecozone development as a catalyst for growth in the country.
These 11 ecozones registered between July to December of 2022 accounted for 94% of the total investment approvals for ecozone development this year and were valued at USD 1.65 million. The largest investment for an ecozone development in 2022 amounted to USD 1.5 million for a mixed-used special economic zone for manufacturing and tourism in Pangasinan.
Of the 29 approved ecozone projects of last year, 13 were information technology (IT) parks and centers, 12 were manufacturing ecozones, 2 in tourism, 1 in agro-industrial, and 1 in mixed-use for manufacturing and tourism ecozone. Most of these approved projects will be located in Calabarzon (Cavite, Laguna, Batangas, Rizal, and Quezon provinces) with 8 ecozone parks, 3 each in the National Capital Region and Central Luzon; 3 projects in Central Visayas; 2 each in Ilocos Region, Soccskargen Region, and Caraga Region; and 2 each in Western Visayas, Eastern Visayas, Northern Mindanao, and Davao Region.
PEZA’s Director General launched its “3E strategies” to attract more investments in ecozones. These include engaging new markets, expansion of existing and emerging markets, and engaging with the Gulf countries for halal hubs.