The Philippine Economic Zone Authority (PEZA) has signed agreements with the City of Sagay in Negros Occidental and with the Southern Philippine Development Authority (SPDA) for the creation of more special economic zones.
The memorandum of understanding (MOU) between PEZA and the City of Sagay gives the green light for the co-development and promotion for the 160-hectare expansion of the Northern Negros Agro-Industrial Export Processing Zone (NNAIEPZ) through a usufruct agreement.
The said expansion is on top of the 20-hectare earlier approved for development by the city government .PEZA will undertake the ecozone development covering 1.6 million square meters of the land of the City of Sagay. This will then be registered to PEZA as an expansion of the existing NNAIEPZ, subject to the proclamation by the President.
The MOU between PEZA and SPDA entails identifying undeveloped lands in SPDA’s properties as well as developing and creating more special economic zones in the area.
Specifically, SPDA’s 24,000-hectare property in the municipalities of Wao and Bumbaran (Amay Manabilang), Lanao Del Sur has been identified as a viable and feasible area for agro-industrial development endeavors.
For this MOU, “the parties shall provide each other the necessary inputs to fast-track the development of, by way of technical assistance, economic zones in priority areas within the SPDA real properties, particularly Wao-Bumbaran or areas not necessarily SPDA’s properties but maybe jointly or severally developed with SPDA’s participation together with the other government units or/and private sector proponents/investors such as medical centers/tourism , townships, trade centers and People Economic Advancement and Community Empowerment Villages among others.”