PEZA Director General Tereso O. Panga commends CatSU for the establishment of a transformative Economic Zone
AdministrationDirector General Tereso O. Panga of the Philippine Economic Zone Authority (PEZA) expressed his commendation for CatSU President Patrick Alain T. Azanza and the university's significant role in bringing to fruition the shared vision of establishing a Knowledge and Innovation Science and Technology (KIST) economic zone, as well as an Agro-Industrial and Economic Processing Zone in Catanduanes province.
“In just a year, the dream of establishing an economic zone has become a reality, marking a milestone that has the potential to change the future of the entire province and greatly benefit its residents,” DG Panga said.
Director General (DG) Panga highlighted that Catanduanes is among the first economies in the ASEAN region to venture into this type of economic zone, demonstrating the province's commitment to innovation and progress.
“The newly established economic zone is designed to harness the synergy between industry and academia, promoting research, development, and innovation,” he said.
DG Panga also emphasized the numerous benefits that will arise from the economic zone, including the attraction of foreign companies to locate within its premises. This influx of businesses will create job opportunities for graduates of CatSU, enabling them to find employment within their own province instead of seeking opportunities in Manila or other cities.
According to the Director General, the establishment of the economic zone will also uplift the economic life of the people of Catanduanes, with the potential to increase local revenues for the Local Government Units (LGUs). The partnership between PEZA, LGUs, state universities, and stakeholders is crucial in the development of ecozones across various communities, as it serves as a catalyst for economic progress in their respective areas.
Director General Panga pledged PEZA's unwavering support in promoting this new and vital economic zone in Catanduanes.
“This groundbreaking initiative will open doors to the Pacific, presenting opportunities for growth, development, and increased trade in the region.”
The
realization of the KIST economic zone and Agro-Industrial and Economic
Processing Zone in Catanduanes stands as a testament to the province's
commitment to fostering innovation, economic development, and a brighter future
for its residents. With the support of PEZA and the collaborative efforts of
stakeholders, Catanduanes is poised to embark on a transformative journey towards
sustainable growth and prosperity. #FJBT
