PEZA to Launch a Skills Training Institute on the First University Ecozone
The Philippine Economic Zone Authority (PEZA) announced its plans to launch a skills training and research institute in its first university ecozone inside the Batangas State University (BSU), Batangas City.
The university ecozone, the Knowledge, Innovation, Science and Technology (KIST) Park at Batangas State University was launched on Monday, July 20. The KIST park is a special economic zone that utilizes idle land in state colleges and universities to lease to potential locators.
Special Economic Zones, otherwise known as SEZ or “ecozones”, are special territories in the Philippines intended to promote investments in key areas of development. They generate employment opportunities and stimulate the repatriation of Filipino capital by providing incentives for business activity.
PEZA Director General Charito B. Plaza stated, “Being a KIST park will now enable Batangas State to partner with foreign schools to bring their programs so we can create a more skilled Filipinos as we embark on transforming our workforce to become multi-skilled, multi-knowledge, and world-class.”
On May 22, President Rodrigo Duterte designated the Batangas State University as a PEZA-registered special economic zone. Representatives of the state university, along with representatives from the Philippine Association of State Universities and Colleges (PASUC), and PEZA signed a memorandum of agreement (MOA) to launch and develop an ecozone institute. The investment promotion agency has approved ₱22.5 billion in investment projects; a great portion of this budget is for new activities from current locators, including the proposal of 10 economic zone proposals and ecozone facility enterprise projects.