PEZA pushes for countryside development

ILOILO CITY -- The Philippine Economic Zone Authority (PEZA) is encouraging local government units (LGUs), private landowners and business groups to have their lands converted into an economic zone to enhance their development potential.

Director-General Charito Plaza, in a press conference on Wednesday, June 6, said she found out that only several areas in the country have economic zones 23 years since the law was passed creating the PEZA.

Most prominent was in the CALABARZON and Metro Manila. The presence of economic zones in these areas result to these places posting the “lowest poverty incidence, crime incidence and eradicated insurgency”.

Also, they contributed 56 percent to the country’s gross domestic product, she said.

“There is a big economic imbalance. So I am now going around provinces and cities talking with the business chambers, the landowners, the private sector,” she said.

She added that every region, province, town and city should have economic zones to serve as “economic drivers.”

“We have to spread the development in the countryside,” she stated.

She explained that both the developer and industrial investor that locate in an economic zone will enjoy incentives. They are entitled to a five percent tax from their gross income, zero Value Added Tax (VAT) on