KNOWING what economic zones can do to a province, the Provincial Government of Bulacan is planning to establish more of it to achieve a more progressive province.
During the open forum of the recently held orientation led by the Philippine Economic Zone Authority (PEZA) held in Hap Chan Restaurant, Brgy. Tikay in this city, Provincial Planning, and Development Officer Arlene Pascual shared that Bulacan has already applied online for the 12-hectare land that the province owns, which will be used for the soon to rise Bulacan Techno Hub, to be added to the current roster of economic zones in the province.
Group Manager Ma. Victoria Magsino of the PEZA’s Management Information System and Corporate Planning Group also shared the benefits that the host local government units receive from PEZA ecozones like an increase in employment and revenues as well as improved standard of living.
Magsino said that out of the 376 operating eco zones as of July 2017, there are only seven in Bulacan and from those eco zones the province was able to gain an investment of P610,587 million, employed 5,978 and exported goods worth $118,721 million.
“We have the PEZA incentive of 5% from the gross income tax to eco zone developers and locators and from that, 2% is directly going to the host LGU,” Magsino said.
On behalf of Gov. Wilhelmino M. Sy-Alvarado, Vice Gov. Daniel R. Fernando said that Bulacan should be ready for change and development in preparation for the future generation.
Moreover, Department Manager Emmanuel Cortero of the EcoZone Development Department-PEZA explained the procedural guidelines for registration of ecozone developers and locator enterprises from application, PEZA evaluation, board approval, an endorsement to the president, and President Proclamation to signing of registration agreement with PEZA.
Tereso Panga, PEZA’s deputy director general for Policy and Planning, presented the overview on PEZA to brief the audience of the agency’s role in ecozones like Agro-Forestry, Aqua-Marine, Halal Hubs, Mineral Processing, Defense Industrial Complex, Renewable Energy and Retirement Homes among others.
“We are a government agency attached to the Department of Trade and Industry tasked to promote investments, extend assistance, register, grant incentives and facilitate the business operations of investors in export-oriented manufacturing and service facilities inside selected areas as PEZA Special Economic Zones,” Panga said.
He added that the agency oversees and gives out incentives to developers/operators of and locators in world-class, ready-to-occupy, environment-friendly secured and competitively priced Special Economic Zones.