^

Business

Government to create ecozone authority for Mindanao

- Marianne V. Go -
A Regional Economic Zone Authority (REZA) will be created in the Autonomous Region in Muslim Mindanao (ARMM) to identify and approve special economic zones in the area.

This was announced by Trade and Industry Secretary Cesar V. Purisima following a meeting with DTI’s ARMM Regional Secretary Ishak V. Mastura and Philippine Economic Zones Authority (PEZA) director-general Lilia B. de Lima.

According to Purisima, the ARMM Legislative Assembly has already approved the creation of the REZA.

The Department of Trade and Industry (DTI), Purisima said, supports the creation of the REZA which will be the independent equivalent of the PEZA.

Congress, however, Purisima said, will still have to give its final approval for the creation of the REZA.

Purisima pointed out that there are some exporting companies in the ARMM region including a banana plantation in Datu Paglas which ships bananas to the Middle East and a textile manufacturer.

The ARMM region, Purisima added, is also a source of 70 percent of the carrageenan raw material exported by the Philippines.

Another lucrative export market, Purisima said, is the $250-billion Halai food products market.

The REZA, Purisima said, can give their own incentives although it would work closely with the PEZA and DTI especially in terms of technical assistance.

"The REZA is basically like our PEZA. They will identify areas that will become ecozones and they will have their own promotions," Purisima said.

A REGIONAL ECONOMIC ZONE AUTHORITY

AUTONOMOUS REGION

DATU PAGLAS

DEPARTMENT OF TRADE AND INDUSTRY

LEGISLATIVE ASSEMBLY

LILIA B

MASTURA AND PHILIPPINE ECONOMIC ZONES AUTHORITY

MIDDLE EAST

MUSLIM MINDANAO

PURISIMA

REGIONAL SECRETARY ISHAK V

  • Latest
  • Trending
Latest
Latest
abtest
Are you sure you want to log out?
X
Login

Philstar.com is one of the most vibrant, opinionated, discerning communities of readers on cyberspace. With your meaningful insights, help shape the stories that can shape the country. Sign up now!

Get Updated:

Signup for the News Round now

FORGOT PASSWORD?
SIGN IN
or sign in with