Delays in new ecozone proclamation being addressed
The Office of the Executive Secretary (OES) has called for cooperation and proper coordination among involved agencies to address the delays in the proclamation of new economic zones that have resulted in applications piling up at the Office of the President.
Philippine Chamber of Commerce and Industry (PCCI) officials met with the OES, the Philippine Economic Zone Authority (PEZA), and the Department of Trade and Industry (DTI) last week to discuss ways to fasttrack pending and future presidential proclamations for the creation of special economic zones.
The meeting was in response to the growing concern among investors over the reported delays in the proclamation of the new economic zones.
According to PCCI, Executive Secretary Salvador Medialdea said reviewing the applications took longer than expected as some of the pending applications lacked important documentation and requirements, specifically those that pertain to land titles.
The PCCI said Medialdea had 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 (Medialdea) further stressed the importance of working according to the letter of the law to prevent future issues,” PCCI said.
“Executive Secretary Medialdea assured that the OES has completed reviews of 25 pending ecozone applications which are ready for presidential proclamation,” the PCCI said.
PCCI president George Barcelon said the country’s largest business organization supports Medialdea’s call for cooperation and proper coordination among the agencies involved.
Barcelon said this development would continue to help promote the Philippines as an investment destination.
The PCCI earlier submitted recommendations to President Duterte to fasttrack the presidential proclamation of economic zone applications.
PEZA director general Charito Plaza estimated that some P500 billion worth of investments in the country are at risk given the persisting delays in the proclamation of new economic zones.
She said some locators are waiting for their respective sites to be proclaimed first before proceeding with the construction of their facilities.