By Dean Aubrey Caratiquet
Unfazed by global headwinds, the administration continues to funnel resources into strategic locations that would help drive investments, boost employment, and uplift the nation’s bottomline.
This, as President Ferdinand R. Marcos Jr.’s signing of Proclamation No. 1385, which declares a new information technology park in Lipa City, Batangas as a special economic zone.
This legislation calls for the allocation of several parcels of land amounting to 288,314 square meters (30 hectares) as the Biz Hub at LIMA Estate, Barangay Bugtong na Pulo, upon the recommendation of the Philippine Economic Zone Authority (PEZA).
The designation also complies with Republic Act No. 8424, or the National Internal Revenue Code of 1997, as amended by Republic Act No. 12066, or the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act, as well as the implementing rules and regulations of the relevant laws and PEZA Board resolutions.
As of press time, the Lima Technology Center hosts more than 200 companies operating in electronics, consumer goods, logistics, and automotive components, among others.
Among the major firms with operations in the commerce hub are Yamaha Motor Philippines and Epson Precision Philippines.
The Lima Technology Center, which forms part of the sprawling 1,100-hectare LIMA Estate, a property that straddles Lipa City and Malvar town in Batangas, is owned and operated by the Aboitiz Group.
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