Peza, BuCor seal partnership on mega ecozone development

STRENGTHENING their collaborative efforts in ecozone development initiatives, the Philippine Economic Zone Authority (Peza) and the Bureau of Corrections (BuCor) officially sealed a Memorandum of Understanding (MOU) for the establishment of economic zones in the country on Tuesday, January 30, 2024.

Peza director general Tereso O. Panga said, “We anticipate that this initiative will not only create more employment opportunities for Filipinos but also significantly contribute to addressing food security and sufficiency, decent and affordable housing and new urbanism— aligning with the Marcos administration’s objectives and ultimately propel the Philippines towards upper middle-income economy status, where no Filipino is left behind.”

Echoing this, BuCor Director General Gen. Gregorio Pio P. Catapang Jr. expressed the significance of a whole-of-government approach towards propelling the Philippines as an investment hub.

“Ang lakas po ng gobyerno pag nagsama sama, talagang maiaahon natin ang ating kahirapan at mapoposisyon natin ang ating bansa. We will be a strong nation in the 21st century and we want to be part of it. We want to be part of PEZA in its quest to open up our economy for foreign direct investors and we will make it succeed,” Gen. Catapang said.

The Department of Justice also expressed full support for the partnership. Undersecretary Deo L. Marco said, “This agreement is a manifestation of this administration’s objective of realizing the immense potential of our country’s resources and our government’s capacity to further advance and develop our economic position.”

Peza-BuCor partnership

Under the MOU, both parties shall collaborate in attracting foreign direct investments and in creating economic opportunities by establishing economic zones registered through Peza in the lands under the jurisdiction of BuCor.

Usec Marco stated, “It’s a practical approach for implementing the policies of maximizing land use development for the sustainability of the BuCor through the Peza’s expertise in administering economic zones.”

Accordingly, these ecozones would be ideal for hosting various sectors and entire supply chains, particularly those focused on innovation, digital transformation, and sustainability.

DG Panga explained, “Emerging industries like electric vehicle production, advanced manufacturing, green ores processing, nano tech, knowledge-based and AI-driven industries, medical-related industries, and blue industries will find a conducive environment within this eco-industrial township.”

Gen. Catapang also noted that this project will provide various opportunities not only for the host LGU and region but most especially employment for persons deprived of liberty (PDLs), which is a priority for the BuCor. /