The Philippine Economic Zone Authority (Peza) and the Department of Science and Technology (DOST) have signed a partnership agreement to establish Knowledge, Innovation, Science, and Technology (KIST) parks in the country. The move aims to benefit local startups and small and medium enterprises.
During the signing ceremony at the DOST office in Taguig, Peza Director General Tereso O. Panga emphasized the government’s goal of strengthening the manufacturing sector through the creation of an enabling environment for research and development (R&D) and innovation. Panga stated that KIST parks will stimulate the production of unique products and services using indigenous materials and talent. He also highlighted the role of KIST parks in increasing R&D infrastructure, facilitating collaboration with foreign partners, promoting technology transfer, and upskilling the workforce towards innovation. Panga added that the DOST can contribute to enhancing the country’s global innovation index ranking.
Under the agreement, the DOST will provide technical assistance to Peza for planned activities in KIST parks. It will evaluate and endorse qualified locator companies in these economic zones. Peza, on the other hand, will be responsible for registering these companies and administering incentives for them.
In May, Peza and the Catanduanes States University held a groundbreaking ceremony for the planned KIST park and agro-industrial processing zone in the province of Catanduanes, which will be the first in the Bicol region.
KIST parks are among the new types of economic zones promoted by Peza, which include aerotropolises, agro-forestry economic zones, aquamarine parks, biotech centers, defense industrial complexes, e-commerce zones, halal and food production hubs, and jewelry parks. The government investment promotion also seeks to establish mineral processing zones, pharmaceutical zones, and renewable energy parks.
Currently, the Philippines has over 420 economic zones, with 187 located in the National Capital Region.
