By BERNIE CAHILES-MAGKILAT
June 28, 2010, 5:22pm [ Manila Bulletin Online ]
The Philippine Economic Zone Authority (PEZA) has approved the P2.5 billion Information Technology park project of Cathay Land Inc. to be located within the company’s flagship project, South Forbes Golf City along the Metro Sta. Rosa-Silang-Tagaytay growth corridor.
Cathay Land president Jeffrey Ng said the PEZA approval would of its Cyberpark would entice IT locators as they will be titled to special incentives.
“As a PEZA-registered enterprise, all our locator investors are entitled to special incentives, to include an income tax holiday between four to six years among others,” Ng said.
The P2.5 B project covers 28 hectares within South Forbes’ Business Cluster, called the Cyberpark, expected to primarily attract Information Technology locators that are engaged in, but not limited to, software development and application, IT-enabled services, content development for multi-media or internet purposes, knowledge-based and computer-enabled support services, business process out-sourcing, and IT research and development.
“The Cyberpark is essential to the whole South Forbes development, being an integral part of our 5 Clusters of Excellence where the Residential Cluster works in synergy with the Education Cluster, Wellness Cluster, Leisure Cluster, and the Business Cluster where the Cyberpark is located,” Ng said.
The creation of the South Forbes Cyberpark aims to accelerate a sound and balanced social, economic and industrial development within the Municipality of Silang, Cavite and its neighboring municipalities and localities as well as uphold the potential profitability of the region.
Last July 27, 2009, South Forbes Golf City, together with Global City Innovative College (GCIC), officially started phase one of their 10-year plan to develop South Forbes City Colleges (SFCC). “The continuous growth of the industries in the region, including the locators in our very own Cyberpark, will rely on the presence of more institutions of higher learning to provide the resources of a knowledge-based economy,” said Ng.
SFCC will have modern facilities and equipped with fiber optic connectivity to ensure that the future potential applicants and enrollees will be educated and trained on an international standard.