PEZA Director General Lilia de Lima (3rd from left) hands to SPPI Chairman & CEO Guillermo D. Luchangco (2nd from left) the certificate declaring Light Industry & Science Park IV as Special Economic Zone, while SPPI President Rommel M. Leuterio (right) and Executive Vice President Richard I. Osmond (left) look on.
Light Industry & Science Park IV (LISP IV) has been officially proclaimed as a Special Economic Zone by the Philippine Economic Zone Authority (PEZA). As provided by R.A. 7916 or The Special Economic Zone Act, investors and locators in PEZA-accredited industrial parks will be entitled to certain fiscal and non-fiscal incentives to encourage investments.
LISP IV is the sixth industrial project of Science Park of the Philippines, Inc. (SPPI). SPPI is the nation’s leading and largest private industrial estate developer, with over 800 hectares of prime industrial estate land developed, under development and spanning six strategic locations across the Philippines.
In partnership with Sasaki & Associates Inc., a US-based master-planning firm known for its environmentally attuned design, even the future effects of global warming were considered in the masterplan of LISP IV such as the design of a storm management system that will withstand the highest recorded flooding in 100 years.
Moreover, LISP IV contains features that have made SPPI’s earlier industrial estates successful. These include strategic access; reliable power and water supply; state-of-the art telecommunications facilities and sustainability features such as a centralized wastewater treatment plant, drainage and storm water management system; 24/7 security and in-house fire fighting equipment and crew. It is also a one-stop shop with its on-site park and management team, PEZA and customs office, bank services and freight forwarding service.
According to SPPI Chairman & CEO Guillermo D. Luchangco, LISP IV spans 200 hectares of real estate constituting the industrial portion of the 250-hectare Malvar Cybergreen, which also includes a 50-hectare area for commercial and residential development. About 35% of the original landscape was maintained or enhanced and the property’s natural environment was protected.
“Even before the proclamation, we have already received a number of inquiries from big multinational companies and other big ticket investors. We expect more vibrant economic activities here as more buildings are constructed,” Chairman Luchangco ended.