President Ferdinand R. Marcos Jr. has widened the coverage of Kamanga Agro-Industrial Economic Zone (KAiEZ) in Maasim, Sarangani province.
An aggregate area of more or less 370,705 square meters of land in Barangay Kamanga will now be part of KAiEZ, under Proclamation 330 issued on Tuesday and shared by the Presidential Communications Office on Friday.
The inclusion of parcels of land in the existing KAiEZ was approved upon the recommendations of the Board of Directors of the Philippine Economic Zone Authority (PEZA).
The latest move was also in accordance with Republic Act (RA) 7916 or the Special Economic Zone Act of 1995, as amended by RA 8748.
The KAiEZ was created by virtue of Proclamation 134 issued in March 2011. It originally covered an area of more or less 546,013 square meters.
KAiEZ hosts a number of companies generating PHP42 billion worth of investments.
PEZA Director General Tereso Panga said in a recent business forum that he is “optimistic that more ecozones will be created in our provinces like Sarangani and we’ll see an influx of various industries coming into our regions.”
With Marcos placing strategic importance on the development of economic zones, PEZA has intensified its efforts to promote business and investment opportunities, especially in the countryside, and entice foreign investors to operate in the country’s economic zones. (PNA)
