The impact on the Philippines of the impending global economic slowdown can be mitigated by developing more economic zones (ecozones), the Philippine Economic Zone Authority (PEZA) said. READ:
POLLOC FREEPORT AND ECOZONE — BARMM FACEBOOK PAGE
“Ecozones can be shields to soften the landing all these global disruptions… ecozones can be drivers to accelerate economic recovery and growth,” Mr. Panga said in a statement on Wednesday. “The creation of ecozones will be within the existing investment promotion agencies to maximize investments and promote industrial dispersion especially outside metropolitan areas,” according to the PDP.
By far the largest approved investment is a mixed-use special ecozone for manufacturing and tourism in Pangasinan worth P81.648 billion. “With our enhanced investment laws and strengthened ecozone development programs, we remain bullish that we will be able to jumpstart the economy and keep up with the strong competition worldwide,” Mr. Panga said.
“The PEZA Management Committee, its employees and ecozone stakeholders fully support the OIC to lead PEZA. The OIC, as he has said time and again, is ready to step down as OIC when President Marcos Jr. appoints a Director-General of PEZA,” it added.
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