The Philippine Economic Zone Authority (PEZA) has signed a supplemental agreement to expand the Suntrust Ecotown Tanza-Special Economic Zone in Cavite by 331,348 square meters, following a proclamation by President Ferdinand R. Marcos, Jr. that formally added the area to the existing economic zone.

The P967-million expansion is expected to attract additional investments, boost exports, and generate new employment opportunities in the province. PEZA, the government agency under the Department of Trade and Industry responsible for overseeing economic zones across the Philippines, administers incentives and regulates operations within these designated areas to promote foreign and domestic investment. The expansion aligns with the Marcos administration's broader push to strengthen the country's investment climate, including through incentives streamlined under the Corporate Recovery and Tax Incentives Act (CREATE), which restructured fiscal perks to favor locators in priority sectors and areas outside Metro Manila.

According to PEZA, the Suntrust Ecotown Tanza-Special Economic Zone currently hosts 65 registered enterprises and supports more than 7,900 direct workers. The newly added land is anticipated to accommodate further industrial and commercial development within the zone.

Cavite, located south of Metro Manila in the CALABARZON region, has long been a hub for manufacturing and export-oriented enterprises, with multiple PEZA-registered economic zones contributing to the province's industrial output. The province's proximity to the capital and access to major road networks connecting it to ports in Manila and Batangas have made it a preferred site for locators seeking lower operating costs while remaining within supply-chain reach of Metro Manila.

Source: BusinessWorld Online