Ayala-owned companies in Cebu are gearing up for an IT boom in the province following the declaration as an IT zone of the 50-hectare Cebu Business Park by the Philippine Economic Zone Authority (PEZA).

Francis O. Monera, president of Cebu Holdings Inc. (CHI), said the proclamation would help facilitate the entry of IT investments with the availability of incentives.

Monera said that before developers of IT buildings needed to apply separately with the PEZA, a process which took a little longer because the proclamation needed concurrence of several parties, including the local government unit.

With the Cebu Business Park now an IT zone, IT developers and locators automatically get incentives from PEZA. For example, printer company Lexmark need not have its building proclaimed separately as an IT building in Cebu Business Park where it operates its research and development center.

This is the second IT zone in Cebu. The other is Asiatown IT Park, the first IT zone outside Luzon, developed by Cebu Holdings unit Cebu Property Ventures and Development Corp. (CPVDC).

Located a kilometer away from Cebu Business Park, Asiatown IT Park covers 24 hectares. Read more...

By Irma Isip (www.malaya.com.ph)