ILOILO CITY – The province of Iloilo will soon have its first agro-industrial economic zone after the Philippine Economic Zone Authority (PEZA) Board recently approved the pre-qualification clearances of the Restia Agro-Industrial Estate Park Corp. (RAIEPC).
“It is subject to presidential proclamation with registration as a special economic zone. RAIEPC has mostly complied with (all the other requirements),” said Joseph Timothy Rivera, PEZA investment promotion partner.
Restia de Vicente, RAIEPC chief executive officer, said locators at the eight-hectare RAIEPC located in Leganes town will enjoy low-income tax holidays and other incentives offered by PEZA.
Rivera, an Ilonggo who used to be a special advisor to the PEZA director general, welcomed the establishment of the second agro-industrial economic zone in the Western Visayas region.
“This will support the call for the aggressive development of the Philippine’s agricultural sector by President Ferdinand R. Marcos Jr.,” said Rivera.
“This is a testament to the commitment of the incumbent administration of an efficient functional government that would open the country’s doors to more investors both local and foreign,” added Rivera.