Olongapo SubicBay BatangGapo Newscenter

Sunday, June 29, 2008

Freeport and industrial park set to rise in Zambales

IBA, Zambales - A 600-hectare freeport industrial park envisioned to spur economic development in this typhoon-devastated province is set to rise here.

Gov. Amor Deloso said Imagine Realty Corp is bullish in developing a vast idle lot owned by the government located at the Redondo Peninsula in Barangay Cawag, Subic, Zambales to make it into an ecozone.

"Zambales will soon have its own Freeport designed to attract more investment and generate employment for our people," Deloso said.

The project will focus on sustainable development, said Deloso adding it will be of mix-use industrial park. The ecozone will be limited to light and non-polluting industries such as electronic and garment factories, information technology and even call centers.

"We will not allow heavy pollutant industries in the area," Deloso pointed out.

Subic town being a contiguous community of the Subic Bay Freeport, Deloso said has been declared as part of the ecozone.

Just like Subic Freeport, the Zambales Freeport Industrial Park will be developed into a self-sustaining, commercial, financial and investment center to generate employment in the province and attract local and foreign investments.

Roberto Aventajado, Imagine Realty Corporation president, said Subic town has a potential to become a freeport due to the existing seaport complemented with other infrastructure facilities.

"Our company is currently in alliance with international investors that can pursue full development of the Zambales Industrial Park," Aventajado told reporters here.

The firm, Aventajado said will shoulder the cost of the project study to be completed in the 30-days period. "Our proposal will be mutually beneficial, especially for the progress of Zambales.

Similar to Subic Freeport, Deloso said Zambales Industrial Park will be operated and managed as a separate custom territory ensuring free flow and movement of goods. He said the province will retain its basic autonomy and will operate according to the Local Government Code of 1991.- Jess Malabanan - ABS CBN NEWS

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