Pasay City – In earnest efforts to bounce back from the pandemic and continuously attract investments in the Philippines, the top investment promotion agency Philippine Economic Zone Authority (PEZA) Director General Charito ‘Ching’ Plaza and Civil Aviation Authority of the Philippines (CAAP) Director General Captain Jim Sydiongco has yesterday signed a Memorandum of Understanding (MOU) for the establishment of Aerotropolis ecozones and/or Aerotropolis-linked ecozones in the country.
The MOU serves as the parties’ initial commitment to establish areas of cooperation in the establishment of Aerotropolis ecozones and/or Aerotropolis-linked ecozones by utilizing CAAP’s idle and unproductive real estate assets throughout the country.
“We are grateful for CAAP’s cooperation with PEZA to be innovative in harnessing one of the factors of investments—the air transportation facility and processes in the country—in order to maintain the competitiveness of Philippines and our brand as the investment destination or haven in Asia,” said Director General Plaza.
PEZA Director General Charito Plaza and CAAP Director General Capt. Jim Sydiongco have inked a Memorandum of Understanding for the utilization of CAAP’s idle lands to become Aerotropolis ecozones and/or Aerotropolis-linked ecozones. Standing as witnesses are Deputy Director General Atty. Norma Tañag, PPRG Group Manager Aleem Guiapal, and BGen John Estabillo
She explained that, “As we all may know, efficient connectivity through established infrastructures for transportation and logistics facility by air, land, and sea are crucial factor for ease of doing business (EODB) and lesser cost of doing business. Without it, we cannot build linkages and delivery and exchange of goods and services.”
Under the MOU, PEZA and CAAP will jointly promote the establishment of these ecozones to attract investments in aviation industry-related manufacturing industries, logistics services and maintenance, repair and operations, including, but not limited to, emerging companies involved in renewable energy technologies and food terminal hubs.
Both parties may likewise explore opportunities for joint venture operation of economic zones or through Public-Private Partnership Scheme and to train world-class workers specifically for airline industries so that there is ready supply of ecozone workers needed for that industry.
“Despite the challenges we face, it is a must that we continue to create opportunities to cope with the fast-changing times. The Philippines has a lot to offer but it is also high time for us to develop our idle lands and attract companies that will spearhead the technology transfer, opening doors for more opportunities for Filipinos in the aviation industry-related sectors and services,” said the PEZA Chief.
PEZA continues to strengthen efforts by embarking on new frontiers of ecozone development under its Transformation Road Map, which heeds to the call of accelerating rural progress in the countryside by virtue of Administrative Order No. 18 signed by President Rodrigo Roa Duterte in 2019. #