Connect with us

Hi, what are you looking for?

News

Ecozones underutilized but more in pipeline, NEDA’s Balisacan says

OFFICIALGAZETTE.GOV.PH

ECONOMIC ZONES are currently underutilized and must be planned with more of an eye towards their long-term attractiveness to locators, National Economic and Development Authority (NEDA) and Socioeconomic Planning Secretary Arsenio M. Balisacan said.

“So many are underutilized; the scope for improvement is vast. The point is that there is a good basis for the development of the zones but we need to make sure we have the resources to make it a viable destination for investors,” Mr. Balisacan told the House committee on economic affairs on Monday.

He called on other agencies to take up a “whole-of-government approach” in ensuring a healthy industry consisting of “effective and cost-efficient zones,” without leaving their development solely to the Philippine Economic Zone Authority (PEZA).

“We have received a lot of bills on the creation of zones in many areas, and our usual response is we (need) more details on such proposals, so that we can ensure the resources of the Republic are used most efficiently. We have many of those zones around the country; what might be needed is to consolidate all possible assistance so (they become) more attractive to investors,” he added.

Earlier this month, PEZA announced a proposal to create 13 ecozones, which are expected to generate nearly P18 billion worth of investment.

Separately, Mr. Balisacan said that the Philippine Development Plan (PDP) for 2023 to 2027 will be presented to President Ferdinand R. Marcos, Jr. next week.

He said that this PDP focuses on digitalization and connectivity.

“The digital transformation of the government will result in a faster and more efficient delivery (of services) to the people. It can also help the government build better data systems (to improve the targeting of) social protections,” he said.

“Digitalization is a high priority of this administration; we must push for this. It’s the way of the future. The pandemic has shifted all economies in the world to that level, so we must not be left out. We must make sure our people, firms can compete with the global marketplace,” he added. — Luisa Maria Jacinta C. Jocson

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest

Editor’s Pick

<?xml encoding=”utf-8″ ??> Aspect is the well-known property maintenance company in London that is recognised for its signature yellow and blue vans, which are...

Editor’s Pick

<?xml encoding=”utf-8″ ??> The Wakelet Microsoft 365 Children’s Parliament backed by The Express, is proud to announce that James Caan CBE, the former Chairman...

News

THE TOWERING BUILDINGS of Makati’s central business district are seen in the background in this May 13, 2020 file photo. — PHILIPPINE STAR/ MIGUEL...

News

A Philippines peso note is seen in this illustration on June 2, 2017. — REUTERS THE PHILIPPINES could benefit from the proposed Maharlika Investment...

News

PASSENGERS queue before the check-in counters at the Ninoy Aquino International Airport (NAIA) Terminal 3 after flights were canceled due to technical issues on...

News

By Arjay L. Balinbin, Senior Reporter METRO PACIFIC Investment Corp. (MPIC) expects to generate P500 million in revenue from its dairy business by 2025,...

You May Also Like

News

COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...

News

REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...

News

BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...

News

KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect Investment.com, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.