Peza seals deal for Bohol’s P200-M ecozone

FULL-SCALE DEVELOPMENT PEZA Director General Tereso Panga and TURC President Albert Uy signed the registration agreement for the P200 million Tagbilaran Uptown Information Technology Hub 2. —PEZA

The Philippine Economic Zone Authority (PEZA) last week signed the registration agreement with the developer of Bohol’s second economic zone, clearing the way for the full-scale development and operation of the new information technology (IT) park in Tagbilaran City.

PEZA, one of the Department of Trade and Industry’s investment promotion agencies, said it had signed the agreement on May 8 with Tagbilaran Uptown Realty Corp. (TURC) for the development of the Tagbilaran Uptown Information Technology Hub 2.

PEZA Director General Tereso Panga and TURC President Albert Uy signed the agreement, which formalized its recent proclamation as a new information technology (IT) park under President Marcos’ Proclamation No. 821.

“This strategic collaboration signifies increased investor confidence in the Visayas and reinforces PEZA’s commitment to inclusive, technology-driven, and sustainable development in the countryside,” PEZA said in a statement

Investments registered under PEZA-accredited economic zones enjoy a number of fiscal and non-fiscal incentives, including income tax holidays, special corporate income tax rates, or enhanced deductions, among others.

This second PEZA-registered ecozone in Tagbilaran City, Bohol will span approximately 11,237 square meters.

Backed by a projected investment of over P200 million, the expansion is expected to create additional jobs and attract more companies engaged in the information technology and business process management (IT-BPM) sector.

PEZA said one prospective locator has already signaled interest in setting up operations in the new zone, with a potential investment exceeding P70 million and plans to employ over 500 Filipinos.

This second economic zone in the province builds on the success of the 1.4-hectare Tagbilaran Uptown IT Hub 1, Bohol’s first IT park, which has significantly spurred local economic activity and job creation.

The existing hub currently hosts TaskUs, a leading IT-BPM firm that employs over 1,400 workers in its Bohol operations alone, according to PEZA.