Wednesday, October 5, 2022

Fort Ilocandia Eyed As Special Economic Zone


Fort Ilocandia Eyed As Special Economic Zone


How do you feel about this story?


The province of Ilocos Norte is eyeing recognition from the Philippine Economic Zone Authority (PEZA) to establish another special economic zone (SEZ) at Fort Ilocandia in Calayab village here.

To date, Ilocos Norte has at least two established ecozones– the Valdez center in San Nicolas town and the Mariano Marcos State University in its Batac City campus.

Pedro “Pete” Agcaoili Jr., the provincial planning and development officer of the Ilocos Norte government, said this on Monday after a public consultation on the provincial development and physical framework plan of the province.

A SEZ is a selected area with highly developed or which has the potential to become a center of development to attract foreign direct investment or increase opportunities for trade balance, employment, and development of infrastructure facilities.

“The establishment of ecozones in various parts of the province is among the priority concerns of the current administration,” Agcaoili said.

Once approved, business establishments operating in the ecozones are entitled to fiscal incentives and enjoy tax benefits and holidays. Early on, a SEZ Institute was established in Batac City to make it more accessible to Ilocanos.

Since then, the area has been used to provide various skills training and research to make every Filipino a world-class worker.

There are 406 operating economic zones in the Philippines and over 4,600 companies are enjoying tax incentives through these.

The PEZA is an attached agency of the Department of Trade and Industry that is tasked to promote investments, extend assistance, register, grant incentives, and facilitate the business operations of investors in export-oriented manufacturing and service facilities inside selected areas throughout the country. (PNA)

Latest News


The Talk

More Stories

Shopee Partners With Charity Organizations To Support Victims Of Typhoon Karding

As a help to victims of Typhoon Karding, Shopee launched the 'Shopee Bayanihan' in collaboration with other charity organizations.

‘Bulalo’ Keychains Boost Baguio Inmate’s Livelihood, Artistry

An inmate from Baguio City has made a keychain inspired by the 'bulalo' bone to help him earn for his family.

Davao City Opens ‘Lamayan Ng Bayan’ For Poor Dabawenyos

With the initiative of the local government, indigent residents from Davao City can have free funeral services through the "Lamayan ng Bayan".

Negros Occidental LGUs Urged To Activate Drinking Water Monitoring Bodies

The Negros Occidental Provincial Health Office called out the provincial government to deploy the local drinking water quality monitoring committees in response to cholera cases in the area.

Pasig Village Willing To Share Best DRRM Practices To Other LGUs

Barangay San Antonio in Pasig led the training for the local government heads from other regions in disaster risk reduction management.