Puerto Princesa City, Palawan - The Philippine Economic Zone Authority (PEZA) is planning to establish the country's first mega economic zone in Puerto Princesa City, Palawan, spanning approximately 26,000 hectares. This announcement was made by Director General Tereso Panga.
According to Philippines News Agency, who spoke during the recent PEZA 28th Investors' Night in Pasay City, mega ecozones are becoming a popular trend in Southeast Asia for attracting significant investments. The proposed mega ecozone in Palawan is envisioned to host an integrated industrial cluster, facilitating the entire supply chain in manufacturing, specifically targeting the electric vehicle industry.
The project is set to feature its own power and water supply systems, as well as a port facility. PEZA is currently in discussions with the Bureau of Corrections (BuCor) for the development of the land in Barangay Iwahig, which is known for its penal colony. An agreement between PEZA and BuCor for the use of this land is expected to be formalized within the month.
This mega ecozone will be the fifth public ecozone managed by PEZA, following those in Baguio, Pampanga, Cavite, and Mactan in Cebu. Panga highlighted the necessity of having a public-owned mega ecozone, citing the absence of privately owned land in the Philippines large enough for such ambitious projects and the desire to avoid encroaching on territories belonging to indigenous peoples.
The cost for developing the mega ecozone has not been disclosed yet, as PEZA is still in the process of conducting a detailed study for the project.