TODAY'S EDITORIAL: Expand ecozones, but reform law first
THE Philippine Economic Zone Authority recently reported its accomplishments in registering ecozone projects for the year, and they are indeed impressive. The agency approved a total of 29 ecozone projects valued at P96.21 billion, with about 94 percent of that total coming from 11 projects registered since President Ferdinand 'Bongbong' Marcos Jr. took office at the end of June.
It is certainly not a case where ecozones have no benefits, as we can clearly see that they do from the Philippines' own experience; but that they often fall somewhat short of expectations or their potential in terms of building up local supply chains, sparking business and employment growth outside their immediate area, technology and knowledge transfer, and most importantly, boosting government revenues.
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