Mindanao ecozone development to be expedited — PEZA
THE Philippine Economic Zone Authority (PEZA) said it is collaborating with the Mindanao Development Authority (MinDA) to accelerate the development of economic zones (ecozones) on the island.
The partnership was formalized via a memorandum of understanding (MoU) signed by the two agencies on Feb. 24, PEZA said in a Facebook post on Monday.
“With 42 of the country’s 436 operating economic zones already located in the region, we see significant potential to further strengthen Mindanao’s investment footprint,” PEZA Director General Tereso O. Panga said.
The MoU will help accelerate the development of ecozones in priority areas identified in the Mindanao Development Corridors program.
“By aligning ecozone expansion with regional development strategies, the partnership ensures that investments translate into sustained economic opportunities for Mindanao communities,” PEZA said.
The agencies agreed to provide technical support, align annual planning and investment promotion initiatives, and jointly undertake business matching and promotional activities to attract both domestic and foreign investors.
PEZA will provide guidance on investment facilitation, ecozone registration, and incentive mechanisms, it said.
MinDA Chairman Secretary Leo Tereso A. Magno said the authority will work closely with local government units, partner agencies, and private investors to promote existing ecozones and identify candidate sites.
“The MoU signing marks a strategic step toward advancing sustainable countryside development and enhancing Mindanao’s position as a competitive and investment-ready region,” MinDA said.
PEZA has approved 18 new projects valued at P12.86 billion at its January meeting, including sites in the National Capital Region, Calabarzon, Central Visayas, Bicol Region, Northern Mindanao and Soccsksargen. — Beatriz Marie D. Cruz
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