The Philippine Economic Zone Authority (PEZA) aims to propel economic activities in a coastal village in Libon, Albay through economic zone development.
PEZA Director General Tereso Panga visited Barangay Pantao, an “astillero” or a shipyard during the galleon trade, which played then as a key player in the global value chain.
Panga, a Bicolano himself, said on Friday that establishing ecozones in Pantao will help the coastal village regain its glory days, as it could host large-scale manufacturing operations.
“Creating more manufacturing ecozones will boost the region’s attractiveness to foreign direct investments and enable it to participate in a significant way in the GVC (global value chain) once more,” the PEZA chief said.
According to PEZA, two sites in Pantao are being eyed as viable locations for ecozones. The PEZA also conducted an ocular inspection in the area to assess the proposed locations.
The PEZA is also looking into having a public ecozone in Pantao, adding to the existing PEZA-managed ecozones in Baguio, Pampanga, Cavite, and Cebu. (ANTONIO)
