Marcos creates special economic zone in Iloilo City

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Marcos creates special economic zone in Iloilo City
Special Economic ZoneLima Technology Center-Special Economic ZoneThe Grid
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President Ferdinand “Bongbong” Marcos Jr. designated The Grid — a building with a 7,021.88-square-meter gross floor area in Mandurriao in Iloilo City — as a special economic zone and expanded the Lima Technology Center- Special Economic Zone in Malvar, Batangas.Under Proclamation 668 issued by Marcos on August 27, The Grid , located at Donato Pison Avenue in Barangay San Rafael, Mandurriao, Iloilo City, and the 2,334-square-meter property where it stands, were designated as a SEZ.

The Special Economic Zone Act defines SEZs as “selected areas with highly developed or which have the potential to be developed into agro-industrial, industrial tourist/recreational, commercial, banking, investment, and financial centers.”According to the Philippine Economic Zone Authority , there were some 419 economic zones in the country as of April 2023, including 297 information technology parks or centers.

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Special Economic Zone Lima Technology Center-Special Economic Zone The Grid

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