By MASIDING NOOR YAHYA

ILIGAN

THE Philippine Economic Zone Authority (PEZA) and Southern Philippine Development Authority (SPDA) entered into a partnership to develop special economic zones in Lanao del Sur.

In statement on Monday, PEZA said the memorandum of understanding (MOU) signed last week approves the creation of economic zones in the province, as well as an agro-industrial development on a 24,000-hectare site in the municipalities of Wao and Bumbaran.

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In the MOU, the two parties are to fast-track the development of economic zones in priority areas, whether in properties controlled by the SPDA or those co-developed with other government agencies or the private sector.

PEZA is an agency attached to the Department of Trade and Industry (DTI) tasked to promote investments, extend assistance, register, grant incentives to and facilitate the business operations of investors in export-oriented manufacturing and service facilities inside selected areas throughout the country proclaimed by the President of the Philippines as PEZA Special Economic Zones.

It oversees and administers incentives to developers/operators of and locators in world-class, ready-to-occupy, environment-friendly secured and competitively priced Special Economic Zones. (Muslimedia.PH)