President Marcos has designated a parcel of land in Tarlac City as a special economic zone (SEZ).
Malacañang said Marcos created the SEZ through Proclamation No. 701. The new SEZ is in Barangay Lourdes in Tarlac City.
Proclamation No. 701 was issued pursuant to Republic Act No. 7916 or the "Special Economic Zone Act of 1995," following the recommendation of the Board of Directors of the Philippine Economic Zone Authority (PEZA).
The new SEZ, which has a total area of two million square meters, will be known as the TARI Estate.
Executive Secretary Lucas Bersamin signed the proclamation on behalf of the President on Oct. 2.