Special economic zones are designated areas in the country that have unique economic regulations advantageous to investors, international trade, and entrepreneurs. These special economic zone act and regulations include leveraged tax incentives and allowing foreign nationals to establish centers of operations. In fact, the regulations in these zones are designed to encourage and maintain strong foreign investments.
The Current State of the Special Economic Zones in the Philippines
In the Philippines, special economic zones are overseen by the Philippine Economic Zone Authority (PEZA).
Special Economic Zones are Expanding Exponentially
In the first quarter of 2023, PEZA recorded a 54% increase in investments compared to the same period from the previous year. The jump is bringing in Php 12.54 billion worth of investments, consisting of 42 new and expansion projects of locators and developers. This is 45% higher than the original projection, with only 29 projects. At the rate it’s going, the government agencies and special economic zones around the country are well on the way to hitting their annual growth target.
The positive trend is a reprieve to the country wrought with economic challenges. The locator and developer projects are expected to generate $616.6 million in export goods and about 5,236 jobs for Filipinos.
It’s also important to note that the numbers are beyond the expectations of the national government, and it’s only the first quarter. In recent statements, PEZA Director-General Tereso O. Panga has said that the agency is expecting more inbound delegations of foreign investors in the coming months.
Venturing Into New Industries
PEZA the development authority has relied on steady investor interest in IT and consumer manufacturing for decades. This year, however, Mr. Panga shared that PEZA is about to open doors to emerging technologies and sectors. The body is in contact with new eco-zone locator applicants and investors, spanning the vaccine and life science sector, electric vehicle technology, motorcycle manufacturing, regenerative agriculture, organic fertilizers and pesticides, capital equipment and integrated circuit packaging and testing services.
As trends in technologies, business interests and consumer preferences change, the economic zones in the country can expect more opportunities to grow.
Where to Invest
Areas around special economic zones are prime real estate investment and tourism development hotspots. Tons of living and business opportunities are bound to crop up around these zones due to rapid commercial development and infrastructural growth.
Here are some of the prime destinations for real estate investments near special economic zones:
Dasmariñas, Cavite
Cavite is one of the Philippines’ top industrial hubs. One of the biggest and most productive ones is the First Cavite Industrial Estate (FCIE), which happens to be in Dasmariñas. The specialized industrial estate is a 159.5-hectare subdivision servicing light-to-medium scale industries and business enterprises, providing countless jobs to residents of house and lots in Dasmariñas City.
If that’s not reason enough to invest in a property near FCIE, Dasmariñas is also an ideal place to live since it has access to major road links like the South Luzon Expressway, Cavite-Laguna Expressway (Silang Interchange), and Emilio Aguinaldo Highway. Camella in Dasmariñas, in particular, puts you within a stone’s throw from these roads.
General Trias, Cavite
Another great area to explore in Cavite is General Trias City. It’s on a steady path to industrialization, with the Cavite Export Processing Zone (CEPZ) paving the way. The economic zone houses over a hundred factories, employing thousands of workers and national and local taxes. General Trias has successfully made the transition from having an agricultural economy to an industrial one.
Beyond CEPZ, the city is also home to other industrial estates, such as the Gateway Business Park and the New Cavite Industrial City. Today, at least 400 hectares of land in the city is dedicated to these industrial zones. That means the remaining land area is filled with great investment opportunities. A house and lot in General Trias ensures that you’re at the heart of economic action in the region. Experienced developers see the value of the city and showcase its many advantages to attract foreign investment. Camella in General Trias makes provides you with the chance to join the myriad of other economic development activities while enjoying the area’s natural beauty, with consists of crisp, cool air and lush flora.
Clark, Pampanga / Subic, Zambales
Economic zones are spread far and wide, and one of the most significant ones is right to the north of the Metro. Clark Freeport and Special Economic Zone (CFSEZ) is fast becoming a major player in manufacturing and exporting in the country. Subic is the center of the economic growth triad, which includes the Subic Bay Metropolitan, Clark Special Economic Zone, and Metro Manila. While properties around Clark are desirable, a house and lot in Subic may be preferable for families looking to settle in the area.
Subic is in close proximity to the CFSEZ without being too industrial. It has managed to retain the residential and homey environment that North Luzon is known for. It’s also an ideal location for business people since it’s just minutes away from Clark International Airport and expressways, such as the Subic-Clark-Tarlac Expressway (SCTEX), … TPLEX and the North Luzon Expressway (NLEX), (Shei, spell out nalang the TPLEX) linking the region to Metro Manila.
Mariveles, Bataan
Another option for property investment in North Luzon is Mariveles in Bataan. Much like Subic, it’s also within easy access to Clark Special Economic Zone and the Subic growth triad. It’s an excellent choice because Mariveles merges the more industrial and commercial development with the agricultural.
Despite being close to the economic zones, Mariveles has retained its small-town charms. This is evident in Camella in Mariveles where homes are made to feature the best of nature, and right outside the property gates are thoroughfares to lead you to the economic zones, including Subic-Clark-Tarlac Expressway (SCTEX) and North Luzon Expressway.
Cabuyao, Laguna
Like its neighbor Cavite, Bulacan is making great strides in becoming an economic hub to the regional growth center the south of the Metro. It’s home to some of the largest business centers export processing zones in the region, notably the PEZA zone. The Laguna PEZA zone houses major factories that manufacture products for export.
Investing in a house and lot or even a condo in Laguna is a smart move today. It’s the apex of urban living where you get all the benefits of and industrial metro while enjoying better quality of life. For one, there’s less road jams, less crowded public transport, and better air quality than its busier counterparts.
Invest in Properties Near Special Economic Zones
Whichever economic zone free trade zones or area you may consider, there’s sure to be a Camella development right around the corner. We give you the edge to succeed in today’s competitive market, so an investment in Camella is an investment toward your future.
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