03 Jul President Duterte to proclaim CdeO as one of 46 PEZA ecozones
Cagayan de Oro City will be included in the new Philippine Economic Zone Authority (PEZA) ecozones from P31 billion-worth 46 economic zone projects awaiting the proclamation of Philippine President Rodrigo Duterte.
In an article from Interaksyon.com, 11 of the zone projects focused on manufacturing industry and are being developed at Laguna, Batangas, Cavite, Bataan, Cebu, Negros Occidental, and Cotabato.
32 projects goes to the development of IT parks and centers at key locations around the country such as in the National Capital Region (NCR), Cebu, Davao Region, Bacolod, Cavite, Laguna, Bulacan, Bataan, Baguio City, and Cagayan de Oro City.
In addition, the medical tourism development is in Cebu while the new tourism project is located in Compostela Valley.
240 projects awaiting PEZA registration from January to May of 2017 reached 98 percent investment approval or P107.75 billion from last year’s P54.38 billion for the same duration.
It was also recorded that employment in PEZA rose P1.34 million or 5.73% from January to April of this year from last year’s P1.27 million.
PEZA export revenues also improved from by 13.57% or USD16.5 billion from January to April 2017 in comparison to USD14.5 billion of 2016.