Peza, DOST team up to establish KIST parks
MANILA -The Philippine Economic Zone Authority (Peza) has signed a partnership agreement with the Department of Science and Technology (DOST) for the establishment of Knowledge, Innovation, Science and Technology (KIST) parks in the country, a move seen benefitting local startups, as well as small and medium enterprises.
During the signing ceremony on Thursday at the DOST office in Taguig, Peza Director General Tereso O. Panga said the government wants to fortify the manufacturing sector by creating an enabling environment for research and development (R&D), as well as for innovation.
“Through KIST parks, we aim to foster the production of a diverse array of unique products and services, utilizing our indigenous materials and talent. To take the lead in our region, we must focus on upgrading and expanding our productive capabilities,” said Panga during his speech.
“KIST Parks will play a significant role in increasing R&D infrastructure, fostering collaboration in R&D with foreign partners, facilitating technology transfer, and upskilling our workforce towards innovation,” he said further, adding that the DOST can help in enhancing the country’s global innovation index ranking.
Under the agreement, the DOST will provide technical assistance to the Peza in relation to activities that are planned by prospective locators in KIST parks.
It will evaluate, as well as provide endorsements for qualified locator companies in these economic zones.
Peza will still be responsible in registering these locator companies and in administering incentives for these enterprises.
Earlier in May, the Peza and the Catanduanes States University (CatSU) led a groundbreaking ceremony for the planned KIST park and agro-industrial processing zone in the province of Catanduanes, which will become the first in the Bicol region once completed.
KIST parks are among the new types of economic zones that the Peza is currently promoting, with the others including aerotropolises, agro-forestry economic zones, aquamarine parks, biotech centers, defense industrial complexes, e-commerce zones, halal and food production hubs, and jewelry parks.
The government investment promotion is also pushing for the creation of mineral processing zones, pharmaceutical zones, and renewable energy parks.
To date, there are more than 420 economic zones strewn across the Philippines, 187 of which are in the National Capital Region.
