President approves creation of Valencia Economic Zone in Negros

Valencia in Negros Oriental can now attract more investments in agriculture, aquaculture, communications, and even tourism from local and foreign investors after it was proclaimed an Agro-industrial Economic Zone by President Benigno Aquino Jr. on April 26, 2011.

This was confirmed by Lilia de Lima, director general of the Philippine Economic Zone Authority (PEZA), in a letter to Valencia Mayor Rodolfo Gonzales dated May 4, 2011.

De Lima assured Gonzales of PEZA’s full support and assistance in the operation of the Valencia Special Economic Zone that has an area of 43,252 square meters.

Pursuant to Republic act No. 7916 as amended by Republic Act No. 8748, the Ecozone shall be developed and operated as a decentralized, self-reliant and self sustaining industrial, commercial/trading, agro-industrial, tourist/recreational, banking financial and investment center to create employment opportunities in and around the Ecozone and attract sustainable foreign investments.

Already, Valencia Hydraulic System Technologies, Inc., a Norwegian owned company that fabricates hydraulic pumps, is operating within the economic zone.

The local government of Valencia which hosts the geothermal facility of Energy Development Corporation took the initiative of establishing its industrial park in a bid to generate more livelihood and work opportunities for local folks.

The Department of Trade and Industry (DTI) said the designation of a parcel of land in Barangay Palinpinon in Valencia, Negros Oriental as an Agro-Industrial Economic Zone will bring about more economic development not only in Valencia but also in Negros Oriental.

PEZA, an attached agency of DTI, promotes the establishments of economic zones in the Philippines for foreign investment. A PEZA declared economic zone will ensure investors of world-standard facilities and support services.

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