• CHERYL G. CRUZ
The designation of Megaworld’s The Upper East in Barangay 41, Bacolod as Information Technology Park by President Ferdinand Marcos Jr. “solidifies the position of the city as an emerging IT-Business Process Management (IT-BPM) hub in the country,” the Philippine Economic Zone Authority said.
PEZA director general Tereso Panga, in a statement June 18, said that Marcos signed Proclamation No. 919 last June 2, which creates and designates 33.96 hectares of Megaworld’s property in Bacolod as a special economic zone (IT Park).
“The IT Park…is projected to attract over P1 billion in investments for the construction of two IT buildings,” Panga said, adding that five IT-BPO companies are expected to operate in the zone, creating over 2,500 local jobs.
“The development of this IT park solidifies the position of Bacolod as an emerging IT-BPM hub in the country, and will further create opportunities for innovation and development,” the PEZA said.
The Sangguniang Panlungsod of Bacolod approved on May 17, 2023 a resolution endorsing the application of Megaworld Corporation to register The Upper East township as an IT Park with the PEZA.
The SP endorsement was one of the requirements for the PEZA Board to consider the IT park application.
“The establishment of The Upper East as an IT Park, and the IT buildings to be developed…(will) potentially prove beneficial to the economy and communities neighboring the project as it will attract foreign and domestic investments, generate employment opportunities…and economic activities,” the SP had said.
Panga said PEZA “continues to engage with our partner-developers like…Megaworld in creating more ecozones that attract investments and drive growth, prosperity, and innovation nationwide.”
PEZA continues to spur countryside development through the creation of more ecozones, seen to facilitate the growth and development of regions and attract new and strategic investments in the country.
The ecozones will play a vital role in attracting much-needed investments in the country, generating more jobs for Filipinos, and contributing in accelerating the nation’s socio-economic progress, it added. | CGC
