Marcos creates Tupi IT park in Cotabato as special economic zone

Cotabato map | INQUIRER FILES

MANILA, Philippines — President Ferdinand “Bongbong” Marcos Jr. has created and designated Tupi Information Technology (IT) Park in Cotabato as a Special Economic Zone, the Presidential Communications Office (PCO) said on Saturday.

The move “aims to support current government thrust to attract more foreign investors,” said PCO.

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“By issuing Proclamation No. 530 on May 2, the President created and designated Tupi IT Park as a Special Economic Zone upon the recommendation of the board of directors of the Philippine Economic Zone Authority (PEZA),” the PCO statement read.

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It added that the designation is pursuant to the powers authorizing Marcos under Republic Act No. 7916, or the Special Economic Zone Act of 1995, as amended by RA No. 8748.

“Signed by Executive Secretary Lucas Bersamin, the President’s issuance covers Lot 1-C-5-A (LRC) Psd-198686 TCT No. 145-2015001381, located along the National Highway, Brgy. Poblacion, Tupi, South Cotabato,” said in the statement.