COTABATO—The Philippine government has officially designated the Tupi Information Technology (IT) Park in South Cotabato as a Special Economic Zone, aimed at attracting foreign investment and boosting economic growth in the region. The proclamation, signed by Executive Secretary Lucas Bersamin on May 2, follows a recommendation from the Philippine Economic Zone Authority (PEZA).
According to Philippines News Agency, the designation of Tupi IT Park as a Special Economic Zone is in line with Republic Act (RA) No. 7916, or the Special Economic Zone Act of 1995. The area covered by Proclamation No. 530 includes Lot 1-C-5-A (LRC) Psd-198686 TCT No. 145-2015001381, situated along the National Highway in Barangay Poblacion, Tupi town. This strategic move is expected to facilitate enhanced economic activities and development in the area.