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The Philippines’ first pharmaceutical economic zone is set to rise in Malolos, Bulacan, poised to spur medical research, manufacturing, and tourism in the country.
The Philippine Economic Zone Authority (PEZA) granted Philstar Marketing Development its registration as a developer and operator of First Bulacan Business Park (FBBP), the first mixed-use ecozone in the province.
FBBP is envisioned to host pharmaceutical and IT support companies, as well as export-oriented industries within its 259,069-square-meter space.
President Rodrigo Duterte earlier issued Proclamation No. 1070 granting FBBP the status of a “special economic zone.”
The ecozone, which is near the proposed Bulacan international airport, is also planned to be powered by renewable energy.
“The proclamation of FBBP will surely spur pharma-related research, manufacturing, and tourism in the country especially with the COVID-19 global pandemic,” said PEZA Director-General Charito Plaza.
Plaza added that the pandemic has reaffirmed the need for investments in health care and pharmaceuticals.
With this need, PEZA is considering to add new types of ecozones called “biomedical innovative centers” which would host biotechnology companies and Philippine startups. – Rappler.com
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