Iloilo has 5 potential sites for economic zones

The Local Economic and Investment Promotions Office (LEIPO) is targeting to establish two economic zones in the province of Iloilo before 2018 ends or early next year.

Velma Lao, LEIPO head, said there are five sites in the province that can be transformed into economic zones.

Identified by the Philippine Economic Zone Authority (PEZA), these sites are in the towns of Concepcion, Miagao, Dumangas, and Leganes and the component city of Passi.

Recently, Brigadier General Charito “Ching” B. Plaza, director general of PEZA , met with Concepcion Mayor Millard Villanueva, Dumangas Mayor Ronaldo Golez, Miagao Mayor Macario Napulan, Leganes Mayor Adolfo Jaen, and Passi City Mayor Jesry Palmares to discuss the registration process.

Lao assured the mayors of support in registering their sites.

Businesses located within PEZA-registered economic zones are entitled to tax incentives, including 100 percent exemption from corporate income tax.

Lao said the creation of economic zones would make the province more attractive to investors.

PEZA is an attached agency of the Department of Trade and Industry (DTI). Its primary task is to boost investments in the country.

SOURCE: Iloilo Metropolitan Times

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