Philippine Economic Zone Authority (PEZA) Director General Charito Plaza said the 1,500-hectare development has been approved recently by PEZA and is now at the Office of the President awaiting for presidential proclamation.
"It will be a mixed zone because he will put up an airport, a seaport, manufacturing industrial zones, and a tourism component like theme parks," Plaza said.
Data provided by PEZA showed that total land development cost for the 1,500-hectare project is at P75.77 billion. Another P25 billion each, meanwhile, are allotted for the development of the airport and an international seaport.
"Mr. Cea will also donate 200 hectares for the proposed National Government Center where we will relocate Malacañang, the executive, legislative, and judiciary.
He is offering it to the President, to the government so that the branches of government will be located in a one-stop shop," Plaza said. Plaza said the proposed National Government Center is targeted to help decongest Metro Manila.
"So what will happen to Metro Manila? This will be decongested. This will become only a commercial and residential area.
If the President will be convinced to transfer and put in one area the main offices of the three branches, Malacañang, for example, can just become a museum," she said.
PEZA is currently urging more property players to divest their development portfolio into industrial zones as the agency looks to set up more economic zones across the country.
Plaza said her goal is to turn the idle lands in the country into productive areas, depending on their potential.
"With the program of PEZA to build economic zones everywhere, we can already decongest Metro Manila by asking the jobless people and the homeless to go back to their provinces because there are already jobs there", she said.
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