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FMJ expands West Cebu Industrial Park
By Nidz Godino
Designating several parcels of land in Balamban, Cebu for inclusion into special economic zone President Ferdinand Marcos Jr. has expanded West Cebu Industrial Park.
Parcels of land are located at Barangays Arpili and Buanoy, and have aggregate area of 176,783 square meters, according to Proclamation No. 710 signed by Executive Secretary Lucas Bersamin by authority of Marcos last Oct. 16.
Proclamation was issued upon recommendation of board of directors of Philippine Economic Zone Authority (PEZA) and covers 19 lots.
West Cebu Industrial Park is operated by Cebu Industrial Park Developers Inc., joint venture between Philippine conglomerate Aboitiz Group and Japan’s Tsuneishi Group.
PEZA special economic zone hosts variety of global enterprises employing over 14,000 skilled Filipinos across medium to heavy industries, according to website of Aboitiz InfraCapital Economic Estates.
PEZA gives fiscal and non-fiscal incentives to registered business enterprises depending on location and industry priority. Fiscal incentives include income tax holiday of four to seven years and availment of special corporate income tax rate of five percent or enhanced deductions for 10 years for export-oriented firms; and income tax holiday of four to seven years and availment of enhanced deductions for five years for domestic market enterprises.
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