President Marcos has designated several parcels of land in Pasig City and Cavite as special economic zones.
Marcos issued two separate proclamations on April 1 for the establishment of economic zones in the cities of Pasig and Tanza.
Malacañang said on Wednesday, April 3, that the President issued Proclamation No. 512, creating and designating several parcels of land in Ugong, Pasig City, as a Special Economic Zone (Information Technology Park), to be known as Arcovia City.
Through Proclamation No. 513, Marcos also designated parcels of land in Tanza, Cavite for the creation of the MetroCas Industrial Estates-Special Economic Zone in the province.
Proclamation 512 covers parcels of land located along E. Rodriguez Jr. Avenue in Ugong, Pasig City while Proclamation 513 covers an aggregate area of 404,141 square meters in Tanza.
The Chief Executive issued the two proclamations pursuant to Republic Act No. 7916, or the “Special Economic Zone Act of 1995,” as amended by RA No. 8748, and upon the recommendation of the Board of Directors of the Philippine Economic Zone Authority (PEZA).
The Special Economic Zone Act of 1995 was signed into law on February 24, 1995, aimed at encouraging economic growth through the development of special economic zones called “Ecozones.”
Both proclamations were signed by Executive Secretary Lucas Bersamin on behalf of the President.