By Justine Irish D. Tabile, Reporter
THE Philippine Economic Zone Authority (PEZA) said that it is ready to receive the initial 2,000 hectares of the Iwahig Prison Penal Farm early next year for conversion into an economic zone.
The conversion of the Palawan site is the result of a partnership with the Bureau of Corrections (BuCor).
“BuCor is ready to turn over to PEZA the initial 2,000-hectare area for ecozone development complete with topography and geohazard maps and the verified survey reports identifying the bounds of the property,” PEZA Director General Tereso O. Panga told BusinessWorld via Viber.
“We will formalize our memorandum of agreement (MoA) and usufructuary agreement by early next year,” he added.
Earlier this year, PEZA and BuCor signed a memorandum of understanding (MoU) for the conduct of due diligence in the establishment of ecozones in BuCor properties.
Under the MoU, PEZA and BuCor will collaborate in attracting investment and creating economic opportunities by establishing ecozones registered with PEZA in penal colonies.
According to BuCor, the idle land that could be used to set up ecozones could total 32,300 hectares.
These include 25,000 hectares in Iwahig, 7,000 hectares in Sablayan, Mindoro, and 300 hectares at the national penitentiary in Muntinlupa City.
“The next step is the MoA and usufructuary agreement for the assignment of the 2,000-hectare area to PEZA. Afterwards, we will go through the proclamation process,” he said.
“It will need to go through Presidential proclamation before we can invite locators to invest in the megazone,” he added.
Next year, PEZA is targeting 30 ecozone proclamations, nearly double this year’s proclamations.
The investment promotion agency proclaimed 16 ecozones involving investment of P5.637 billion in 2024.
According to PEZA, the target is to develop ecozones in more rural areas, noting that the growth areas for ecozone development are Calabarzon, Region 3, Cebu, and Mindanao.
Some 27 ecozones have been proclaimed during the Marcos administration, involving investment worth P9.715 billion.
