Pres. Ferdinand Marcos Jr. has designated a 28.8-hectare information technology park in Lipa City, Batangas as a special economic zone, placing the development under the Philippine Economic Zone Authority (PEZA).
Under Proclamation No. 1385, the 288,314-square-meter property in Barangay Bugtong na Pulo will operate as the Biz Hub at Lima Estate, an IT park intended to host technology and other PEZA-registered enterprises.
The proclamation was issued upon the recommendation of the PEZA Board of Directors.
The designation allows qualified enterprises locating in the IT park to register with PEZA and potentially access fiscal and non-fiscal incentives available under existing laws, subject to eligibility requirements.
The proclamation cited Republic Act No. 7916, or the Special Economic Zone Act of 1995, as well as the National Internal Revenue Code as amended by Republic Act No. 12066, or the CREATE MORE Act.
PEZA oversees economic zones and promotes investments in export-oriented manufacturing, IT and other industries.
The government expects the Lipa City development to attract local and foreign investment and create jobs while expanding the country’s infrastructure for technology and digital businesses.
