Govt addressing delays in ecozone proclamations

MALACAÑANG is working on the proclamation of new economic zones in a bid to address concerns raised by investors, a business group said.

Philippine Chamber of Commerce and In Economic Zone Authority (PEZA) and the Department of Trade and Industry (DTI) recently met to discuss the issue, one of several raised during the recently concluded Philipppine Business Conference.

The PCCI last month claimed that investors were holding back as Malacanang had yet to by the PEZA.

In a statement, the business group said that Executive Secretary Salvador Medialdea had noted that the Palace’s review was taking longer than expected as the required documentation, lacking for some applications.

The PEZA and the DTI were asked by Medialdea to jointly work on ensuring that everything was in order before sending ecozone applications

to Malacañang.

Medialdea, meanwhile, said applications were ready for presidential proclamation, a development PCCI President George Barcelon said would help promote the Philippines as an investment destination.

Aside from Medialdea and Barcelon, also present during the meeting were PEZA DirectorG-eneral Charito Plaza and Deputy Director- General Tereso Panga, Trade Undersecretary Rowel Barba and Senior Deputy Executive Secretary Menardo Guevarra.