Malacañang proclaims 19-ha new ecozone in Cavite
A new economic zone in Cavite has been officially proclaimed by the president, along with the expansion of the province’s premier industrial park, paving the way for the development of more hubs that will host private companies and create more jobs.
The Philippine Economic Zone Authority (Peza) said on Monday that President Marcos had signed last month Proclamation Nos. 669 and 677, which formalize the expansion of the existing Gateway Business Park and creation of the National Development Company Industrial Estate in Cavite.
The expansion of Gateway Business Park and the creation of NDC Industrial Estate are crucial steps in boosting economic activity in the region, Peza director general Tereso Panga said in a statement.
“These projects attract more investments and generate high-value jobs for Filipinos. In the long run, this will significantly contribute to the country’s industrial development and our goal of becoming a regional hub for manufacturing and innovation,” he added.
Proclamation No. 677 designates more than 191,000 square meters (sq m) or 19.1 hectares of land for the P343-million NDC Industrial Estate.
“This new ecozone is already set to accommodate three companies engaged in the production of soap and other detergents, renewable energy and the customs electronics manufacturing sector,” the Peza said in a statement.
To date, the Peza regulates more than 427 operating economic zones across the country, majority of which are located in Luzon, with 4,382 locators operating at these hubs.
Meanwhile, Proclamation No. 669 designates an additional 2,898 sq m of land to the Gateway Business Park.
The expansion area, which costs P380 million to develop, is expected to host a locator specializing in metalwork, said the Peza.
It added that as of June 2024, this economic zone hosts 28 companies that manufacture about $430 million worth of goods for exports annually and employ more than 29,000 Filipino workers.
The Peza earlier said it had approved P115.89 billion worth of investments from January to September this year, more than halfway of the lower end of its target of P200 billion for 2024.
