THE government is upbeat on developing a new business hub in Albay, the Philippine Economic Zone Authority said on Tuesday.
The proposed Bicol Region Economic Zone (BREZ) is said to have drawn interest from prospective investors and PEZA-registered companies looking for alternative locations.
While the Pantao Port in Libon, Albay, is undergoing rehabilitation and expansion this year to transform into an agri-fishery hub and economic gateway to the Bicol Region, BREZ, once it gets presidential proclamation, is poised to host PEZA locators.
“The development of the Bicol Region Economic Zone reflects our continued push to bring investment opportunities beyond traditional growth centers and into high-potential regions like Albay. What we see in Pantao is not just a promising location, but a strategic gateway for inclusive and sustainable industrial growth supported by strong local backing, improving infrastructure, and growing investor interest,” PEZA Director General Tereso Panga said.
“While there is still work to be done, particularly in securing approvals and ensuring readiness, PEZA remains fully committed to developing this ecozone into a competitive and future-ready hub for global industries,” he added.
Officials of engineering and construction firm Atlantic, Gulf & Pacific Company (AG&P) India and Germany who visited the site recently were awed by the scenic beauty of Pantao and its potential for foreign direct investments, PEZA said.
A long-time PEZA locator and ecozone developer, AG&P provides industrial and modular infrastructure and services globally for LNG terminals, refineries, petrochemical plants, utilities, LNG liquefaction modules, and other complex process units.
To date, AG&P has delivered cumulative investments worth more than P8 billion and employed over 1,200 highly skilled Filipino engineers and technicians.
The proposed BREZ will create jobs, boost exports, enable local MSMEs engaged in agri-related products to participate in the global value chain, and drive sustainable investments for regional growth, PEZA said.
With BREZ, PEZA said it aims to implement UN Sustainable Development Goal No. 9: “Build resilient infrastructure, promote inclusive and sustainable industrialization, and foster innovation,” following the Eco-Industrial Park Framework towards creating a “smart and climate-resilient PEZA-owned industrial park.”
It is currently complying with documentary requirements for presidential proclamation under Republic Act 7916, as amended, requiring the support of government agencies such as the Department of Environment and Natural Resources, Department of Agrarian Reform, and National Water Resources Board.
Further strengthening the initiative to develop the Bicol ecozone, House Resolution 633, introduced by Rep. Adrian Salceda and adopted by the House of Representatives, urged all concerned agencies to prioritize and fast-track the presidential proclamation of BREZ.
