Friday, July 1, 2022

Fort Ilocandia Eyed As Special Economic Zone

Fort Ilocandia Eyed As Special Economic Zone

Spotlight

How do you feel about this story?

Like
Love
Haha
Wow
Sad
Angry

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

Lifestyle

Sharon Cuneta Unveils Official Lightstick For ‘Sharonians’

Sharonians are now concert-ready with their new lightsticks!

Big-Ticket Infra Projects Lure Property Developers To Davao City

Big-ticket infrastructure projects have encouraged land developers to invest in Davao.

Leonardia Honors Peers, Supporters In 18 Years As Bacolod Mayor

Bacolod City Mayor Evelio Leonardia, who ended his stint as mayor, honored his peers and supporters for “sticking it out” with him in his more than 30 years as a public official.

Department Of Agrarian Reform Rolls Out ‘Reform Justice On Wheels’ In Tarlac

The Department of Agrarian Reform brings legal services to the province of Tarlac to unclog and fast-track the resolution of agrarian cases.

Bangsamoro Indigent Patients To Get More Medical Aid

The Ministry of Health and the lawmaking in Bangsamoro have now signed an agreement to establish the “Tulong Medical Assistance Program” in the region.

The Great Filipino Story