Vol. XXI, No. 164 [ Business World Online ]
Monday, March 24, 2008 | MANILA, PHILIPPINES
THE GOVERNMENT plans to establish about 40 more economic zones in about five years, as part of a bid to compete better for more investments and spur economic activity in the countryside.
Philippine Economic Zone Authority (PEZA) Director General Lilia B. De Lima said the country is targeting to have about 200 economic zones by 2013 from the current 160 to get more big-ticket companies to invest here.
"Our vision for the next five years is to have more economic zones in the countryside. We expect to have pockets of development in other areas outside Metro Manila," she said in an interview.
Citing PEZA data, Ms. De Lima said the country has about 60 manufacturing and industrial zones and about 80 information technology parks and centers.
The other economic zones, which include tourism economic zones as well as medical tourism parks, have been approved but are not yet fully operational, she said.
PEZA data also showed the National Capital Region has the most number of economic zones or about 70.
Areas without economic zones are Region II, which include the provinces of Batanes, Cagayan, Isabela, Nueva Vizcaya and Quirino; Region XII or SoCCSKSarGen (South Cotabato, Cotabato, Sultan Kudarat, Sarangani and General Santos City); and the Autonomous Region in Muslim Mindanao.
"Investments in the countryside are essential, particularly for Mindanao. These economic zones will help attract investors," Ms. De Lima said.
Business and industry groups wanting to help poor Filipinos earlier formed a new foundation aimed at channeling much-needed resources to the country’s poorest countryside areas. Philippine Chamber of Commerce and Industry President Samie Lim said the Countryside Economic Development Foundation has two thrusts — to look for model cities for investments and identify 10 most deprived areas where more investments could be poured.
"Instead of waiting for the government to tell us where to invest, we’re scouting for prospective investments sites," he said.
In an earlier interview, Ms. De Lima said the government expects big-ticket investments in the electronics, shipping and automotive parts industries to enter state-owned economic zones by the first semester.
Ms. De Lima said three to four foreign investors are likely to come before the end of the month, but declined to name the firms. — Bernardette S. Sto. Domingo
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