President Ferdinand R. Marcos Jr. has approved the expansion of the West Cebu Industrial Park, a PEZA-registered special economic zone in Balamban, Cebu.
Executive Secretary Lucas Bersamin signed Proclamation No. 710 on October 16, designating an additional 176,783 square meters of land in Barangays Arpili and Buanoy for inclusion in the ecozone, which has been a key player in the Philippines’ shipbuilding industry for over 30 years.
The park is operated by Cebu Industrial Park Developers, Inc., a partnership between the Aboitiz Group and Japan’s Tsuneishi Group, and currently spans 540 hectares, hosting significant global shipbuilding firms.
In addition to the ecozone expansion, Marcos has signed laws to establish new branches of Regional Trial Courts (RTC) across various regions, aimed at improving the judicial system’s accessibility.
The Supreme Court will assign branch numbers, and funding for these new courts will be incorporated into the annual General Appropriations Act.
Source: PhilNews24 | October 21, 2024
