Developer to build first ecozone in Consolacion

CEBU, Philippines — A 42-hectare economic zone is going to rise in Consolacion, Cebu soon.

Priland Development Corporation (Priland) president Ramon Carlo Yap bared that the company will start its entry in economic zone development noting the need for more light industrial facilities in Cebu.

For land development alone, the company expects to spend an estimate of P3 billion, explained Priland general manager Marcelino Relampagos.

The Consolacion project marks the company's debut into industrial projects as well as township developments.

Meanwhile, in an earlier interview with Philippine Economic Zone Authority (PEZA) director general Charito Plaza, she urged local government officials to craft attractive packages for investors to come and pour money in their localities, once an economic zone location is already identified.

"We missed a lot of chances in bringing investors to the country because of the absence of more ecozones, and availability of ecozone map. Previously, kanya-kanya ang paningkamot, and it was unfortunate most foreign investors had sad experiences being exploited by our fellow Filipinos," said Plaza.

Currently, there are 361 economic zones in the country, four of these are managed and developed by PEZA, the rest are privately owned and managed.

In 2016, the PEZA registered an investment value of P218 billion, and it contributed P1.030 billion to the government's coffers in the same year.

Yap said the company's ecozone venture will be designed to attract light industrial locators.

PriLand will also build warehouses and buildings on the zone. It will also offer lot only packages for investor companies.