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SM North EDSA Complex declared as IT Park zone

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PRESIDENT RODRIGO R. Duterte has formally “created and designated” a 26,741 square-meter (sq.m.) area at the EDSA corner North Avenue in Quezon City as an Information Technology Park, which will be known as the SM City North EDSA Complex.

Malacañang released a copy of Proclamation No. 672 on Thursday, citing that the President’s decision is “upon the recommendation of the Board of Directors of the Philippine Economic Zone Authority.”

The proclamation is “subject” to the provisions of Republic Act No. 7916, the Special Economic Zone Act of 1995, as amended.

The President has also signed Proclamation No. 673, creating and designating a building, which will be known as the Milestone at Fifth Avenue, and the land on which it stands, as a special economic zone (SEZ).

The site, covering more than 27,000 sq.m., is located at 4th and 5th Avenues at the Bonifacio Global City in Taguig City.

Locators at IT Parks and SEZs get investment incentives. — Arjay L. Balinbin