The Philippine Economic Zone Authority (PEZA) approved P9.6-billion projects at its board meeting last week.
Tereso Panga, PEZA officer-in-charge said two of these, valued at P3.63 billion, are ecozone development projects while 11 are ecozone locator projects with an investment of P5.97 billion.
Panga told attendees of the Investors Recognition ceremonies last week, he is pushing for the rationalization of requirements for ecozone development by doing away with presidential proclamation.
At present, 13 ecozone development projects with a combined cost of P18 billion are waiting for presidential proclamation.
He said other investment promotion agencies like Authority of the Freeport Area of Bataan and the Tourism infrastructure and Enterprise Zone Authority can designate areas as ecozones without having to go through presidential proclamation.
The rationalization, he said, would be part of the agency’s proposal to revisit the 27-year-old PEZA law.
There are 421 PEZA zones nationwide housing 4,346 locators.
