THE Board of Investments (BoI) has signed a memorandum of cooperation (MOC) for the development of a master plan and feasibility study for the Leyte Ecological Industrial Zone (LEIZ) in Tacloban City.
The proposed LEIZ is included under the Copper Industry Roadmap (CIR), which aims to promote integrated development and the competitiveness of copper and other related industries.
“With the aid of experts from the academe and private sector, the BOI will develop the master plan for the LEIZ with the timeline to be finished by next year.” BoI Executive Director Raul Angeles said.
“The feasibility study will follow and it is scheduled for completion by 2019. Thereafter, both of these will be actively marketed by the BOI to local and foreign investors for the establishment of the zone,” he added.
The master plan will cover development for Isabel, Merida, Palompon, Ormoc, Villaba and Tacloban, taking into consideration existing industrial zones and port facilities.
“Once developed and operational, the LEIZ is expected to complement the 425-hectare Leyte Industrial Development Estate which is home to the Philippine Associated Smelting and Refining Corp. [Pasar], the country’s only copper smelting and refining firm and one of the biggest in Asia,” Trade Undersecretary and BoI Managing Head Ceferino Rodolfo said.
“The zone will definitely boost economic activity in the province as this would help manufacturing companies such as electronics and other related industries. Pasar produces copper cathodes, an essential component for electronics products which happens to be our country’s biggest export earner,” he added.