The Philippine Economic Zone Authority (PEZA) is positioning the Bicol Region as an emerging investment destination for information technology-business process management (IT-BPM), technology manufacturing and other industries, as it seeks to bring more economic activity beyond established industrial centers.
PEZA Director General Tereso O. Panga led a series of site inspections and meetings with local officials in Camarines Sur and Albay to assess potential investment locations and strengthen partnerships with local governments.
Among the prospective projects is the expansion of IT-BPM company Inspiro into Naga City.
The company, which employs more than 12,000 workers across eight sites, joined PEZA in assessing possible locations, including the Camarines Sur Information Technology Park in Pili.
Naga City is also seeking to attract more technology and business services firms.
PEZA and the city government signed a usufruct agreement for office space in the local government’s new building, which will house a PEZA extension office serving registered enterprises and prospective investors in the area.
Panga said the agency intends to turn investment leads into projects that generate employment for Bicolanos.
“Our partnership with the Naga City Government goes beyond the establishment of a PEZA extension office. Together with Mayor Robredo, we intend to actively market Naga as a competitive destination for global IT-BPM companies, supported by its skilled workforce, emerging technology parks, and attractive operating costs,” he said.
PEZA is also promoting the proposed Bicol Region Economic Zone (BREZ) in Libon, Albay, where a prospective American-Indian investor inspected a site for a possible activated carbon manufacturing project using coconut shells.
Envisioned as PEZA’s fifth public economic zone, BREZ would complement existing public zones in Cavite, Baguio, Pampanga and Mactan, subject to government approvals and a presidential proclamation.
The agency is also targeting data centers, sustainable aviation fuel production, food processing, automotive wiring harness manufacturing, animal nutrition and aquaculture, alongside investments in power, water and telecommunications infrastructure.
PEZA sees the proposed zone’s proximity to Pantao Port and potential road improvements as advantages for industrial and export-oriented operations.
“The Bicol Region has the ingredients to become an important destination for the next wave of investments in the Philippines. Naga City and Camarines Sur offer opportunities for IT-BPM and technology-related manufacturing, while the Bicol Region Economic Zone presents a platform for new industries that can harness the region’s agricultural strengths, infrastructure, and strategic location,” Panga said.
Stay informed
Get Daily Tribune in your inbox
Breaking news, opinion, and business coverage for readers in the Philippines and abroad.
Subscribe to the newsletterPrefer chat alerts? Join the Daily Tribune Viber community.