The Philippine Economic Zone Authority is partnering with Baguio City and the Benguet towns of La Trinidad, Itogon, Sablan, Tuba, and Tublay for the creation of new economic zones that can help spur community development through investment and job creation opportunities.
PEZA General Manager Charito Plaza led the signing of a memorandum of agreement during the joint celebration of PEZA’s 25th and the Baguio City Economic Zone’s 41st anniversary, Friday.
The partnership with Baguio City Mayor Benjamin Magalong is for the transition of BCEZ into an eco-friendly and sustainable economic zone and to further strengthen its operations by addressing the concern of informal settlers within the eco-zone.
For the Benguet towns, the partnership is for the possible creation of new economic zones within their jurisdiction.
Plaza said that in 2019 alone, the BCEZ contributed P188 million in revenues to the city and created 14,916 job opportunities with a total of P6.2 billion in paid salaries.
“To attain total development, we have to create more economic zones to spread the industries, job opportunities and technology,” she said.
Plaza shared that out of the more than 1,600 local government units in the country, PEZA has already established 400 eco-zones. She said they are into mapping and matching different types of eco-zones with the potentials of each LGU.
Magalong, also the chair of the Blistt Governing Council, expressed their support to the PEZA Economic Zone Development Program and encouraged his fellow local chief executives to consider the putting up of eco-zones in their respective localities.
National Economic Development Authority Regional Director Milagros Rimando lauded the BLISTT local chief executives for the inter-LGU partnership.
The Regional Development Council with NEDA-Cordillera as the lead agency, has adopted the BLISTT concept as one economic development area that can boost development in the Cordillera. – Carlito C. Dar
April 19, 2024
