Palayan City Business Hub gets gov’t approval to operate as IT park

The government has officially designated Palayan City Business Hub in Nueva Ecija province as an information technology part, giving investors of the locator more government incentives.

Last Friday, July 6, Philippine Economic Zone Authority (PEZA) Director General Charito Plaza signed documents which officially recognized the hub as special economic zone.

President Rodrigo Duterte issued Proclamation No. 526 on June 25 which designated the three-hectare complex in Barangay Singalat an IT park.

“This IT park, which is also a special economic zone, will serve as the catalyst of the much-awaited employment generation and economic progress of the great province of Nueva Ecija and our beloved city of Palayan,” said Palayan City Mayor Rianne Cuevas.

Under the Special Economic Zone Act signed into law by then-President Fidel Ramos, special economic zones are defined as “selected areas with highly developed or which have the potential to be developed into agro-industrial, industrial tourist/recreational, commercial, banking, investment and financial centers.”

The PCBH, particularly two buildings which house business process outsourcing (BPO) centers, was constructed by Malaysian conglomerate Alloy MTD Group which agreed to put up the project and operate it for the next 30 years. —Jon Viktor Cabuenas/VDS, GMA News