Biggest ecozone to rise in Quezon

MANILA, Philippines — The Philippine Economic Zone Authority (PEZA) has signed an agreement with Achievement Realty Corp. (ARC) for the establishment of the country’s biggest economic zone with a total cost of P125 billion.

In a statement, PEZA said the investment promotion agency inked the registration agreement with ARC chairman Philip Cea last Jan.31 for the Quezon Techno-Industrial Special Economic Zone (QTISEZ) to be put up in Barangays Rosario and San Jose in Mauban, Quezon.

Under Proclamation 1277 issued last month, President Duterte approved the creation and designation of several parcels of land in the said barangays as a special economic zone.

PEZA director general Charito Plaza said ARC’s investment is a historical project as it is set to become the country’s biggest economic zone.

“QTISEZ is envisioned to have its own international seaport and international airport with an estimated budget of P25 billion each from the total P125 billion cost of developing the 1,836-hectare special economic zone. It will be the first international airport and seaport to be strategically located in the eastern part of Luzon,” she said.

With a P75 billion budget for the proposed development, she said QTISEZ would create 2,000 factories and be instrumental in the creation of more than 200,000 jobs.

“The said funding would come from foreign (and local) investors who have expressed interests in the project and we are already in talks with them,” Cea said.

As the aim is to make QTISEZ  a township, he said around 200 hectares shall be dedicated to mixed use for the establishment of government offices, residential, commercial, and other sectors where people can live, work, and play.

With the registration agreement signed, ARC as an ecozone developer/operator is entitled to establish, develop, construct, administer, manage and operate QTISEZ.

ARC can also construct, install, operate, and maintain infrastructure facilities, utilities, communication systems, as well as sewage and drainage systems either by itself or through another.

PEZA, meanwhile, will have the exclusive power and prerogative to permit, supervise, and control the entry and exit of all goods, machinery, and equipment and merchandise to and from QTISEZ.

ARC, which will be responsible for providing security and maintaining peace and order within the QTISEZ, shall pay all applicable fees to PEZA and agree that the investment promotion agency may withhold, suspend, or disapprove permits.

Cea said he has entered into several memorandums of understanding with Chinese and Korean companies to invest in QTISEZ.