Marcos Expands West Cebu Industrial Park as Special Economic Zone

President Ferdinand “Bongbong” Marcos Jr. has expanded the West Cebu Industrial Park-Special Economic Zone by designating additional parcels of land in Barangays Arpili and Buanoy, located in the Municipality of Balamban, Cebu. This expansion, enacted under Proclamation 710, includes an aggregate area of 176,783 square meters, following a recommendation from the Philippine Economic Zone Authority (PEZA).

The West Cebu Industrial Park, developed by the Aboitiz Group in partnership with Japan-based Tsuneishi Holdings Corp., is home to various facilities, including hotels and pharmacies. As a designated special economic zone, businesses within the park will benefit from tax incentives and other perks offered by the government.

PEZA, which promotes the establishment of economic zones to attract foreign investments, reported that there were 419 economic zones across the country as of April 2023. The agency aims to approve P200 billion in investments this year, having already secured P36.287 billion in the first five months of 2024.