NEWSFLASH

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P1 BILLION ECOZONE FOR STO. TOMAS, BATANGAS

Manila, Nov. 2, 1997 - The Philippine Economic Zone Authority (PEZA) has approved the registration of the First Philippine Industrial Park as developer/operator of a P1-billion special economic zone in Barangay Anastacia located in Sto. Tomas, Batangas.

The first Philippine Industrial Park was designated as an ecozone under Proclamation 1103 on October 1, 1997, by President Fidel Ramos. It is a joint venture of First Philippine Holdings Corp and Sumitomo Corporation of Japan.

PEZA chairman of the board and director general Lilia de Lima noted that there is an increased interest from local and foreign investors to invest in the economic zones. To meet this positive development, PEZA and the developers have accelerated the pace of work on ecozones.

The Anastacia ecozone will start initially to house high technology, non-polluting industries like semi-conductors and related industries.

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