President Ferdinand “Bongbong” Marcos Jr. has signed two proclamations expanding economic zones in Cavite province, the Philippine Economic Zone Authority (PEZA) announced on Monday.
Proclamation No. 669, signed on August 27, 2024, adds 2,898 square meters to the existing Gateway Business Park.
The expansion, valued at P380 million pesos, is expected to house a metalwork specialist.
Proclamation No. 677, dated August 29, 2024, establishes the new NDC Industrial Estate, covering over 191,000 square meters.
The P343-million-peso project is set to accommodate three companies in soap production, renewable energy, and customs electronics manufacturing.
PEZA Director General Tereso O. Panga said the expansions are “crucial steps in boosting economic activity in the region” and will contribute to making the Philippines “a regional hub for manufacturing and innovation.”
As of June 2024, Gateway Business Park hosts 28 companies, generating approximately P24.4 billion pesos in exports and employing over 29,000 Filipino workers.
The new economic zones are expected to attract further investments and create additional high-value jobs in the region.
Discover more from Cavite News
Subscribe to get the latest posts sent to your email.
