Peza to LGUs: Give more perks for ecozone developers

MANILA -- The Philippine Economic Zone Authority (Peza) has urged local government units (LGUs) to give additional incentives for economic zone developers in order to attract more investments in the countryside.

Peza Director General Charito Plaza said LGUs may provide perks like free rental for 10 years for land properties to be used by developers in putting up new economic zones.

“How much is the rent versus the development they (investors) can introduce and the job they can create?” she said.

“We would like to add more incentives and motivate LGUs to give more incentives,” the Peza chief added.

Plaza added that the investment promotion agency eyes to establish two public economic zones per region to spur economic development throughout the country.

The country has four public economic zones.

“Public economic zones are more attractive to investors because the rent is very cheap,” she added.

Meanwhile, Peza will be holding the first Global Economic Zone Convergence in April 2018, wherein the agency is inviting economic zone developers to share best practices and also promote opportunities in the Philippines in establishing economic zones.

Plaza said Peza aims to launch the country’s economic zone map during this international event next year.

Previously, she said Peza eyes at least 300 new economic zones in the country in 2018.

In the first 10 months of the year, Peza registered P203-billion worth of investments, up 89 percent from last year’s investment pledges of PHP107.3 billion. PNA