AN information technology (IT) park in South Cotabato is expected to launch commercial operations by 2026, the Philippine Economic Zone Authority (PEZA) said on Tuesday.
PEZA announced the signing of the registration agreement for the Tupi IT Park last week.
Tupi IT Park was proclaimed a special economic zone by President Ferdinand R. Marcos, Jr., through Proclamation No. 530 on May 2.
The proclamation identified the IT park site as a 15,000 square-meter lot in Barangay Poblacion, Tupi, South Cotabato.
“We are confident that with the proclamation of new ecozones outside of Luzon, such as the Tupi IT Park, we will be able to spur countryside development and achieve our goal of eco-zoning the country towards inclusive and sustainable development,” PEZA Director General Tereso O. Panga said.
According to PEZA, the land development phase of the Tupi IT Park will cost P80.5 million. Construction started in June 2017 and will be completed by January 2026.
The economic zone has received interest from potential IT locators, PEZA said, including a first locator intending to invest P15 million for an operation involving about 600 employees.
Separately, PEZA reported that at least five Japanese companies expressed interest in investing in the Philippines during a visit to Japan between June 17 and 21.
According to the investment promotion agency, its third investment mission in Japan has resulted in at least five FDI leads that are now in the due diligence stages.
“These specific activities include the manufacturing and assembly of jet bridges, smart parking structures, and submersible pumps for wastewater treatment; as well as proposals for, digital health back-office support operations, solar energy, agro-processing, and food export cargo logistics,” PEZA said.
According to Mr. Panga, its 805 Japanese registered business enterprises (RBEs) remain PEZA’s leading long-term investors, accounting for 28% of approved ecozone investments.
As of 2023, PEZA’s Japanese RBEs accounted for more than P500 billion in investments, $16 billion in exports, and 300,000 direct jobs. — Justine Irish D. Tabile
