The Philippine Economic Zone Authority (PEZA) and SM Smart City Infrastructure and Development Corp. are finalizing details of a plan to build more ecozones and information technology (IT) parks nationwide.
PEZA Director General Tereso Panga, SM Smart City Infrastructure President Glenn Ang, and other SM Group executives discussed aligning SM's IT parks and ecozones with the Sustainable Development Goals (SDGs) and leveraging the country's strengthening economy and free trade partnerships.
"This is in line with PEZA's thrust to transform the ecozones into an integrated and mixed-use development, smart, self-contained, and self-sustaining townships providing for the best business ecosystem for investors," PEZA said.
Currently, PEZA hosts 25 IT parks and centers operated by the SM Group and its units.
PEZA said SM also shared its ongoing master planning efforts to transform its properties into smart cities and townships.
The executives told the investment promotion agency that SM incorporates elements aligned with the SDGs.
Likewise, PEZA and SM are committed to collaborating to advance an ecozone development program in the country, leveraging the nation's strong economic growth and new free trade agreements.
Earlier, Panga said an eco-industrial park is a new standard in ecozone development, with projects aligned with SDGs, circular economy, and energy efficiency initiatives.
"This is the standard of the ecozone model now. Because the locator companies we've been hosting inside the economic zones are demanding that they see all these elements in the economic zones. Like you must have embedded power, access to clean and green production, renewable energy," he said.
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