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President Ferdinand “Bongbong” Marcos Jr. has declared the creation and designation of several parcels of land located at Barangay Baculong in Victoria, Tarlac as a special economic zone .Based on Proclamation No. 623 signed by Executive Secretary Lucas Bersamin on July 4, the 297,719-square meter property will be known as the Victoria Industrial Park .Marcos made the move pursuant to Republic Act No. 7916 or the Special Economic Zone Act of 1995, as amended by RA No.
Areas may be established as ecozones through a proclamation to be issued by the President and subject to the evaluation and recommendation of PEZA “based on a detailed feasibility and engineering study.”In May, Marcos underscored the readiness of Philippine economic zones to get businesses up and running in the country, saying these designated development sites are open to all foreign investors.
Special Economic Zone Peza Victoria Industrial Park
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