LGUs push for more ecozones

The Philippine Economic Zone Authority (PEZA) expects a continued influx of investments into the country, following interest from several local government units (LGUs) in establishing new economic zones (ecozones), which are key drivers of trade and investment growth.

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PEZA Director General Tereso Panga said the investment promotion agency (IPA) has received ecozone proposals from 12 cities and municipalities across the country, including Naga City, San Pablo City, Pagudpud, and Digos City.

“We certainly welcome these new host LGUs to join the PEZA network of 427 operating ecozones—and counting—all over the country,” Panga said in a social media post.

Panga added that PEZA conducted a visit last week to three proposed ecozones in San Andres, Quezon; Pamplona, Camarines Sur; and Libon, Albay, for due diligence and consultation meetings.

He said these ecozones provide port connectivity among the ports of San Andres, Pasacao, and Pantao, which face Ragay Gulf.

“This will stimulate regional economic growth as the goods produced and raw materials needed in the ecozones can be facilitated through barge deliveries,” Panga explained.

“Moreover, these ports can serve as vital gateways for domestic and international commerce, tourism, and inter-island transportation,” he added.