The Philippine Economic Zone Authority (Peza) has vowed to fast track the implementation of the ecozone transformation roadmap, which it said expands the different types of special economic zones that could be registered under Peza.
The Philippine Economic Zone Authority has vowed to fast track the implementation of the ecozone transformation roadmap, which it said expands the different types of special economic zones that could be registered under Peza.
“The creation of ecozones will be within the existing investment promotion agencies to maximize investments and promote industrial dispersion especially outside metropolitan areas,” the PDP stated. On relaxing the requirements, the paper proposed to relax the rules on the taxation of products bought from and sold to the domestic market.
Tereso O. Panga, Peza Officer-in-Charge, said the investment promotion agency is preparing more initiatives and “synergy” with other government agencies to strengthen the country’s economic zones in line with the PDP of the current administration in the next five years. In 2022, Peza said it has approved 29 ecozone development projects amounting to P96.21 billion. The agency said 11 of these were registered during the first six months of the Marcos administration, amounting to P90.65 billion.
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