The Philippine Economic Zone Authority (Peza) has registered the largest economic zone in the country, a P125-billion project in Mauban, Quezon.
Called the Quezon Techno-Industrial Special Economic Zone (QTISEZ), the project will span more than 1,800 hectares and will be able to house up to 2,000 factories.
The project used to be called the Greater Lucena Integrated Ecozone project, as announced by Peza and Achievement Realty Corp. (ARC) in 2017. At the time, Peza said it was seeking a required presidential proclamation to declare the area an economic zone.
Proclamation No. 1277 was finally issued on Jan.11, paving the way for the signing of the registration agreement with ARC on Jan. 31.
“This huge investment ARC has entrusted to Peza is going to be a historical project because this new economic zone shall come out, as of today, the future biggest economic zone in the Philippines,” said Peza Director Charito Plaza in a recent statement.
“QTISEZ is envisioned to have its own international seaport and international airport with an estimated budget of P25 billion each from the total P125 billion cost of developing the 1,836 hectares Special Economic Zone,” she said, noting it will be the first to have an international airport and seaport in Eastern Luzon.
Further details about the project, including the timeline for completion, was not disclosed. Philip Cea, ARC chair, was quoted in the statement saying that the funding would come from foreign and local investors.
Without disclosing any names, he said he has also already signed several memoranda of understanding with Chinese and Korean companies to invest in the ecozone.
“With our plans to build a seaport and airport in Quezon [as what Peza Director General said], we would really need to have a big land to support 2,000 factories,” Cea said.
Cea also said that they are planning to make QTISEZ a township, wherein “around 200 hectares shall be dedicated to mixed use for the establishment of government offices, residential, commercial, and other sectors.” INQ