P125-Billion Ecozone to Rise in Quezon Province Under the Duterte Admin

Philippine Economic Zone Authority (PEZA) Director General Charito Plaza confirmed during an interview with the media that a P125-billion worth of development has been approved by PEZA and is now at the Office of the President awaiting a presidential proclamation.

The 1,500-hectare development will be constructed in Quezon Province with the support and funding of businessman Philip Cea, the owner of the modern F1 Hotel in Bonifacio Global City. The P125-billion project is dubbed as the Greater Lucena Integrated Economic Zone Project which will be constructed in Mauban, Quezon.

In an interview with PhilStar, PEZA director general Charito Plaza was quoted as saying "It will be a mixed zone because he will put up an airport, a seaport, manufacturing industrial zones, and a tourism component like theme parks," Plaza said.

Based on the date provided by PEZA the total development cost for the 1,500-hectare project is at P75.77 billion while the remaining P23 billion each are allotted for the development of the airport and an international airport.

Businessman Philip Cea will also donate 200 hectares for the proposed National Government Center where PEZA plans to relocate Malacañang, the executive, legislative, and judiciary.

According to PEZa the proposed National Government Center is targeted to help decongest Metro Manila. When asked by the media on what will happen to Metro Manila, the NCR will become only a commercial and residential area.

Once the President will be convinced to transfer and put in one are the main offices of the three branches, Malacañang, for example, can just become a museum, PEZA chief stated.

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The government agency, PEZA is currently urging more property players to divest their development portfolio into industrial zones as the agency looks to set up more economic zones across the country.

Source: PhilStar / BusinessWorld

P125-Billion Ecozone to Rise in Quezon Province Under the Duterte Admin P125-Billion Ecozone to Rise in Quezon Province Under the Duterte Admin Reviewed by Phil Newsome on 1/17/2017 Rating: 5

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