NEDA Identifies P4.5B Investment Prospects in Bikol

LEGAZPI CITY, June 9 (PNA) -- The National Economic and Development Authority (NEDA) has identified seven key areas in the Bikol region declared by the Philippine Economic Zones Authority (PEZA) as Special Economic Zones for developments worth a total of about P4.5 billion.

Two of these economic zones located in the province of Albay are the 33.13-hectare Legazpi City Special Economic Zone in Barangay Banquerohan here and the 31.3-hectare Tiwi Ecozone in Barangay Bagumbayan, Tiwi town.

The Legazpi ecozone with an estimated project cost of P206 million is being developed by the city government to become site of various investment such as food and beverage processing, light metal industry, electronics and appliance manufacturing and furniture and fixture making, NEDA regional director Romeo Escandor said on Tuesday.

Factories for garments, textiles, gift items, toys, housewares, organic chemicals and ceramics and non-metallic mineral processing plants are several other preferred industries in the complex, Escandor said.

City Mayor Noel Rosal here said the site will be provided with all the amenities of a world-class industrial zone like stable supply of water and electricity, good access roads and security.

The city is also host to the Embarcadero de Legazpi, a P1.8-billion economic tourism hub being developed by the Sunwest Group of Companies within a 5.1-hectare bay front commercial complex. It is slated to start operations before the end of this year.

Being developed by the Tiwi Ecozone Corporation at the cost of P98.8 million, the Tiwi site would prefer factories for electronics and computer peripherals, garments, ready-to-wear apparels and wood-based products, Escandor said.

Tiwi is also host town to the vast geothermal energy complex being operated by Chevron and producing some 300 megawatts of electricity for the Luzon Power Grid of the National Power Corporation.

Albay had another special economic zone in the island town of Rapu-rapu which was developed into a gold mining complex by the Australian-owned Lafayette Phils. Inc. for some P46.3 million three years ago.

The mining operations were taken over by a Korean firm early this year after it was given up by Lafayette upon declaring bankruptcy in the wake of controversies drawn by its one year operations that violated Philippine laws on environmental protection and conservation.

In Camarines Norte, the ecozone is the 30-hectare Global Industrial and Maritime Complex in Larap, a coastal village of Jose Panganiban town with an estimated cost of development worth P1.1 billion.

Escandor said this site is intended for agribusiness, electronic industries and manufacturing of military supplies and armaments.

The rest of these seven prospected investment areas are the Bicol Industrial Park (BIP), Isarog Heights Special Economic Zone (IHSEZ), Naga Agro-Industrial Center (NAIC) and Sta. Rita Industrial Park (SRIP), all within the province of Camarines Sur.

BIP has a 100-hectare site located in Barangay San Jose, Bula town being developed by the FPI Industrial Park, Inc. for P620 million to host food processing, wood products, ceramics, textiles, wearing apparels and electronics factories, Escandor said.

IHSEZ is an over 124-hectare development site located in Barangay Cadlan, Pili town being developed by the Manubay Agro-Industrial and Development Corporation for a cost estimated at about P800 million, Escandor also said.

This area will accommodate manufacturing and food processing plants, he added.

The SRIP being developed by the Sta. Rita Ecozone Corporation for at least P1.4 billion that sits within a 219-hectare covering Barangays San Jose and Sagurong also in Pili town.

It will be intended for manufacturers of IT and IT-related products such as computer motherboards, telephone sets, CD ROM units, and electronics equipment and peripherals, Escandor bared.

NAIC on the other hand is a 105-hectare industrial complex located in Barangay Pacol, Naga City being developed by the Pacol Industrial Development Corporation for some P515.9 million.

Naga is a chartered city within the province Camarines Sur.

The NEDA regional director said this site prefers light to medium non-polluting industries like electronics, electrical, agro-based plants, food manufacturing, wood products, ceramics and textiles.

These investment facilities when put into full operations will certainly uplift the economic situation of Bikol that is presently considered as the second poorest among the 16 regions of the country, Escandor concluded.