THE Philippine Economic Zone Authority (PEZA) said it entered into a partnership with the Southern Philippines Development Authority (SPDA) to develop special economic zones in Lanao del Sur.
PEZA in statement Monday said the memorandum of understanding signed last week approves the creation of economic zones in the province, as well as an agro-industrial development on a 24,000-hectare site in the municipalities of Wao and Bumbaran.
Under this agreement, the two parties are fast-tracking the development of economic zones in priority areas, whether in properties controlled by the SPDA or those co-developed with other government agencies or the private sector.
PEZA also tied up with Sagay City, Negros Occidental on a 160-hectare expansion of the Northern Negros Agro-Industrial Export Processing Zone (NNAIEPZ).
In February, the city government of Sagay authorized PEZA to develop land in the city.
“This will then be registered with PEZA as an expansion of the existing NNAIEPZ, subject to the proclamation by the President,” PEZA said.
PEZA Director-General Charito B. Plaza said the creation of ecozones will help local governments industrialize their jurisdictions, transfer technology, develop land, and create jobs.
“We must replicate this in the whole of the Philippines to attain the total development of the country. We must use this time as an opportunity to grow and develop an export and production-driven economy rather than being import and consumption-dependent, which we are now, and a self-reliant, self-sustaining and revenue-generating country,” she said. — Jenina P. Ibañez