CITY OF MALOLOS, Bulacan— The province of Bulacan is planning to establish an economic zone in an effort to further attain progress and development.
Provincial Planning and Development Officer Arlene Pascual, in a orientation meeting with some officials from Philippine Economic Zone Authority (PEZA), said the application has been filed online for the 12-hectare land that the province owns. It is being eyed for the establishment of the Bulacan Techno Hub that could generate more job opportunities.
This in addition to the seven economic zones already existing in the province.
Out of these seven, Bulacan was able to gain an investment of some PHP610 million that gave employment to 5,978 people and exported goods worth some USD118 million.
Governor Wilhelmino Sy-Alvarado said the move is part of the goal to make Bulacan a new engine of economic growth, having a strategic location to help spread industrialization and development in Luzon.
Meanwhile, Ma. Victoria Magsino, manager of the PEZA’s Management Information System and Corporate Planning Group, cited the benefits that the host local government units receive from PEZA for having economic zones.
“We have the PEZA incentive of 5% from the gross income tax to eco zone developers and locators and from that, 2% is directly going to the host LGU,” Magsino said.
Moreover, department manager Emmanuel Cortero of PEZA’s Eco Zone Development Department explained the procedural guidelines for registration of economic zone developers and locator enterprises from application, PEZA evaluation, among others.