Palace fast-tracks ecozone proclamations

Malacañang said it has completed reviews of 25 economic zones as it vowed to fast track long delayed Presidential Proclamations of projects after the business community made howl out of this government inaction.

The issue on delayed Presidential Proclamations on investments, which have been approved by the Philippine Economic Zone Authority (PEZA) was one of the resolutions passed by the recent 43rd Philippine Business Conference (PBC) asking the government to accelerate approvals of these projects.

Following the PBC Resolution, the Office of the Executive Secretary (OES) met with the PEZA, Department of Trade and Industry (DTI), and the Philippine Chamber of Commerce and Industry (PCCI) to discuss how to fast track pending and future presidential proclamations for the creation of special economic zone.

Executive Secretary Salvador Medialdea said that the OES has already completed reviews of 25 pending ecozone applications which are ready for presidential proclamation

PEZA Director General Charito Plaza said that only 6 out of 58 approved ecozones have been granted Presidential Proclamations recently.

Medialdea explained that reviewing the applications took longer than expected, indicating that some of the pending applications lack important documentation and requirements, specifically those that pertain to land titles.

Medialdea asked PEZA and DTI to jointly work and undertake due diligence to ensure that everything is in order before sending applications to the OES for endorsement. He further stressed the importance of working according to the letter of the law to prevent future issues.

PCCI president George Barcelon expressed his appreciation at the expeditious action of the Executive Secretary, and supported its call for cooperation and proper coordination among the agencies involved.

This development, Barcelon said, will continue to help promote the Philippines as an investment destination.