MANILA – The Philippine Economic Zone Authority (PEZA) said the two newly proclaimed special economic zones in Cavite province have investment amounting to PhP723 million.
In a statement Monday, PEZA said that these investsments came from the expansion of Gateway Business Park for another 2, 898 square meters of land.
The expansion project, costing PHP380 million, will be hosting a metalwork locator.
As of June 2024, the ecozone in General Trias has 28 locators with aggregate exports of USD430 million annually. The ecozone also employed 29, 000 Filipino workers.
Meanwhile, the NDC Industrial Estate in Dasmariñas has investments amounting to PHP343 million.
PEZA said there will be three companies locating the new industrial zone which will produce soap and other detergents, renewable energy, and the customs electronics manufacturing sector.
“The expansion of Gateway Business Park and the creation of NDC Industrial Estate are crucial steps in boosting economic activity in the region. These projects attract more investments and generate high-value jobs for Filipinos,” PEZA Director General Tereso Panga said.
“In the long run, this will significantly contribute to the country’s industrial development and our goal of becoming a regional hub for manufacturing and innovation,” Panga said. (PNA)