THE Philippine Economic Zone Authority (PEZA) said on Monday that four companies are set to locate in the two newly proclaimed economic zones (ecozones) in Cavite.
In a statement, the investment promotion agency said that the ecozones proclaimed through Proclamation Nos. 669 and 677 have an estimated project cost of P723 million.
These are the 2,898-square-meter expansion of Gateway Business Park worth P380 million and the 191,000-square-meter new special ecozone known as NDC Industrial Estate, valued at P343 million.
According to PEZA, Gateway Business Park’s expansion is anticipating the registration of a metalworking company.
The ecozone currently hosts 28 companies, which generated $430 million worth of exports, employing 29,000.
Meanwhile, NDC Industrial Estate is set to welcome three companies engaged in the production of soap and other detergents, renewable energy, and custom electronics.
The National Development Co. industrial estate targets both PEZA-registered exporters and domestic market enterprises.
PEZA Director General Tereso O. Panga said that the two newly proclaimed ecozones are expected to boost economic activity in the region.
“These projects attract more investments and generate high-value jobs,” he said.
“In the long run, this will significantly contribute to industrial development and our goal of becoming a regional hub for manufacturing and innovation,” he added.
With the proclamation of the two Cavite locations in August, President Ferdinand R. Marcos, Jr. has so far proclaimed 24 ecozones, which included expansions, since April 2023.
This year, Mr. Marcos proclaimed 13 ecozones which have a combined cost of P2.74 billion.
To date, PEZA manages 427 operating ecozones, or ecozones with at least one existing and operating PEZA-registered business enterprise.
These ecozones are home to 4,382 locators, PEZA said. — Justine Irish D. Tabile