THE Philippine Economic Zone Authority (PEZA) said it is expecting to host the first locator at the Palawan Mega Ecozone (PMEZ) by mid-2026.
“We are looking at four to six months processing time for the presidential proclamation, and by mid next year, we can start hosting locator companies,” PEZA Director General Tereso O. Panga told BusinessWorld.
“We will offer a very low lot rental rate to the first set of investors that will sign up with us, provided they undertake all the land improvements at their own cost,” he added.
PEZA signed a joint memorandum circular (JMC) on the development of the ecozone with the Bureau of Corrections (BuCor) on Thursday.
The JMC formalized the transfer of the exclusive use and possession of the BuCor-administered portion of the Iwahig Prison and Penal Farm for ecozone development.
The mega ecozone is geared towards strengthening domestic production and create quality jobs for local communities.
The zone is projected to employ 480,000 direct jobs in the region.
Mr. Panga said he expects the ecozone to attract new investments and housing locators with complete supply chains.
“There is much interest in the PMEZ and when we can put it into operation. I have received queries on this and interest to invest as developers and locators,” he said.
According to PEZA, some investors that have inquired about locating include Thai conglomerate Charoen Pokphand Group.
Other firms have also signified interest, including a Taiwanese aqua farm operator, a Peruvian producer of Stevia, a Philippine exporter of coconut-based products, and a power generation company.
“PEZA is open to joint ventures for the development of embedded utilities or facilities. We plan to allocate huge areas to sub-developers or facilities providers to accelerate the development of the property,” Mr. Panga said.
“This will all be based on a master plan that will be commissioned by both BuCor and PEZA,” he added. — Justine Irish D. Tabile