The Peza on Tuesday said it pre-qualified eight economic zone projects worth P33 billion during the first half of the year, paving the way for the next approval process for these big-ticket investments.
As for the IT parks with a total investment of P1.47 billion, three will be located in Araneta City, Quezon City, while the remaining one will be situated in South Cotabato City.
The last of the pre-qualified projects is the P4.12-billion IT Center that will be put up in Makati City. Tereso Panga, director general of Peza, said that the investment value of these new ecozone development projects marked a 579.23-percent increase compared to the P4.86 that they recorded in the same period last year.
“This uptick in ecozone development investment is crucial as it indicates a growing demand for proclaimed areas, which is further supported by the rise in new and expansion projects,” Panga said in a statement. The Peza official also touted the recent streamlining of the economic zone proclamation process through Board Resolution No. 23-138, which cut down the number of documentary requirements in the process.
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