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PRRD signs proclamation creating Cavite IT ecozone
FILE: President Rodrigo Roa Duterte delivers his message during the birthday celebration of Masbate Governor Antonio Kho at the Kalasangan Farm in Cataingan, Masbate on January 9, 2019. ALBERT ALCAIN/PRESIDENTIAL PHOTO
MANILA — President Rodrigo R. Duterte signed a proclamation creating an Information Technology Center Special Economic Zone in Bacoor City, Cavite.
Proclamation No. 655, signed by Duterte on Wednesday and released to the media on Friday, also designated a building that will be named VistaHub BPO Molino.
The planned special economic zone will be situated along Daang Hari Road, Molino IV in the city.
Duterte created the special economic zone at the recommendation of the Board of Directors of the Philippine Economic Zone Authority (PEZA).
Special economic zones are defined in Republic Act No. 7916 or The Special Economic Zone Act of 1995 as “selected areas with highly developed or which have the potential to be developed into agro-industrial, Industrial tourist/recreational, commercial, banking, investment and financial centers.”
An ecozone may contain any or all of the following: industrial estates, export processing zones, free trade zones, and tourist/recreational centers.
