The Philippine Economic Zone Authority (PEZA) announced on Tuesday that President Ferdinand R. Marcos Jr. has declared two new economic zones located in Batangas province and Bacolod City, which are expected to bring in a total of PHP1.64 billion worth of investments.

In a statement, PEZA said Proclamation 200, signed on April 14, declares Robinsons Cyberpark Bacolod as a new information technology (IT) park in Banago, Bacolod City, while Proclamation 402, signed on April 19, approves the expansion of the Lima Technology Center – Special Economic Zone in Malvar, Batangas.

The IT park in Bacolod has PHP777.35 million in projected investment, while the expansion of the Lima Technology Center amounted to PHP864.22 million.

“The two economic zones will certainly bolster and spread economic growth outside the National Capital Region (NCR),” PEZA Director General Tereso Panga said.

Panga said 20 ecozone projects are awaiting the President’s approval, consisting of 11 IT centers, eight manufacturing ecozones, and one agro-industrial ecozone.

“And with our 10 percent target growth for 2023, we remain on track in our goal of establishing at least 30 ecozones every year that create centers of economic progress outside the NCR to spur countryside development,” he added.

The PEZA chief reiterated that the Marcos administration sees ecozones as catalysts for inclusive growth that are expected to generate jobs, especially in rural areas. (PNA)