By Mariela Angella Oladive and Rjay Zuriaga Castor
President Ferdinand R. Marcos Jr. has designated a new Special Economic Zone (SEZ) in Iloilo City, marking a significant step in the city’s development as a technology hub.
The designation, formalized through Proclamation No. 668, was signed by Executive Secretary Lucas Bersamin on August 27, following recommendations from the Philippine Economic Zone Authority (PEZA) Board of Directors.
The newly designated SEZ, located in Mandurriao district, will be known as “The Grid” and will serve as an Information Technology (IT) Center.
The site, comprising parcels of land identified as Lot 16-E, Psd-06-069682, and Lot 16-D-1, Psd-06-085931, is expected to attract IT-related investments, further bolstering Iloilo City’s reputation as a growing tech hub.
In addition to the Iloilo City designation, Proclamation No. 670 was also issued to expand the Lima Technology Center-Special Economic Zone in Malvar, Batangas, adding several parcels of land to the existing SEZ.
SEZs are defined in the law as specific areas that are either highly developed or have the potential to be developed for purposes such as agro-industrial, industrial, tourist and recreational, commercial banking, investment, and financial activities.
An ecozone may include various facilities like industrial estates, export processing zones, free trade zones, and tourist or recreational centers.
As of April 2023, the Philippines boasts 419 economic zones, with 297 of these dedicated to information technology.
These zones, established under Republic Act No. 7916, or the Special Economic Zone Act of 1995, are intended to promote economic growth with minimal government interference, encouraging investments in sectors such as industry, tourism, commerce, and finance.
