Economic Zone Spurs Growth: The Naga City Initiative
By Jordan Domingo
APPROXIMATELY 10,000 new jobs are anticipated to emerge from the recently approved economic zone, endorsed by President Ferdinand R. Marcos Jr. on July 25.
Naga City Mayor Nelson Legacion revealed plans for a trade mission by the Philippine Economic Zone Authority (PEZA) early this year, aiming to attract investors to the Naga City Industrial Park (NCIP) spanning 25 hectares in Uptown Carolina (Barangay Carolina).
The NCIP, once operational, has the potential to generate jobs, with Mayor Legacion expressing gratitude to PEZA Director-General Tereso Panga for support.
The industrial park is expected to house eight factories, following the lead of prime locator Fuji Industries Naga Corporation, and accommodate 16 business establishments and public facilities, including a transport terminal and water treatment facility.
The news has sparked excitement among residents for the employment opportunities the industrial park may bring. Dhan Michael Oropesa and Tricia Barcebal both expressed optimism about the positive impact on Naga City's economy and tourism.
Following President’s Proclamation 299 on July 25, 2023, the Investment and Tourism Promotions Office and Naga City Investment Board organized business forums to establish comprehensive operational guidelines for future investments, involving various stakeholders, developers, locators, and ecosystem support providers.