The Philippine Economic Zone Authority (PEZA) has teamed up with Benguet State University (BSU) and St. Louise University (SLU) as part of efforts to generate jobs for Filipinos, as well as match the labor needs of various export industries.
PEZA Director General Charito Plaza led the signing of the Memorandum of Understanding (MOU) with the two prominent universities in Baguio City over the week.
According to Plaza, the memorandum with BSU aims to foster and develop a mutual partnership for the establishment of a Special Economic Zone (SEZ) that will help promote export-based investments in the Cordillera Administrative Region (CAR).
Plaza also encouraged the BSU to become a Knowledge, Innovation, Science and Technology – Special Economic Zone (KIST-SEZ) Institute.
"It is really a great privilege to be signing this MOU with PEZA for economic development. This is now the beginning; therefore, we must have a vision to have mutual cooperation and be agile in our actions. We must leave a legacy for the Benguet community and CAR," BSU President Felipe S. Comila said during the event.
Meanwhile, PEZA and SLU's partnership aims to recognize the vital role of the university in helping to develop and promote the Cordillera as an export-oriented regional economy in the Philippines.
SLU President Gilbert B. Sales also expressed the university's recognition and support for PEZA's creation of KIST, adding that research and development play a crucial role in the improvement of the national economy.
Plaza said PEZA has developed a new type of economic zone known as SEZ Institute and training centers to be built in every region in public ecozones, SEZ, or in KIST Parks such as private or state universities and colleges.
The PEZA chief explained that partner schools shall bring their expertise, technology, skills, and degree programs as required by investors in various industries. "This, in turn, will transform the Filipino youth into multi-knowledge, multi-skilled, and world-class workers," Plaza added.
In line with PEZA's Transformational Roadmap to make the Philippines an investment haven in Asia, it will assist partner schools, such as SLU and BSU, in exploring its potentials and academic assets into becoming a KIST-SEZ Institute.
Apart from the signing of the MOU, Plaza also penned the Deed of Donation and Acceptance Ceremony to provide educational equipment and furniture to three schools in Baguio City namely Buyagan Elementary School, Kias Elementary School, and Guisad Valley National Highschool.
This is part of the corporate social responsibility of PEZA and the Baguio City Economic Zone to nurture the youth's education in Baguio City through becoming well-educated and well-trained learners.