4 weeks ago
13
PUERTO PRINCESA CITY — Palawan, the largest province in the country in terms of land area, is being groomed to become a key economic hub in Southeast Asia, with investors from other countries expressing strong interest in a large-scale development project spearheaded by the Bureau of Corrections (BuCor).
This was revealed by BuCor director Gen. Gregorio Catapang in an interview on the sidelines of the 2nd Asean Regional Correctional Confer-ence being held in this scenic coastal city from Feb. 15 to 17.
The initiative aims to transform underutilized government land into a thriving economic zone focused on food security, trade and tourism.
Catapang said ambassadors from Singapore and Malaysia were briefed on the master plan and showed great enthusiasm to invest in the coun-try.
Catapang said that more investors from Thailand, Singapore and other Asean nations are expected to visit the Philippines starting Feb. 17 to explore business opportunities.
"The Singaporean ambassador told me, 'Let's talk some more because your idea is very good,'" the BuCor director said.
Catapang said that foreign diplomats have been presented with a comprehensive strategy for developing Palawan into a major international trade and logistics hub.
Catapang noted that Palawan's geographical position makes it an ideal location for trade in the Asean region.
The plan includes the construction of an international container port and a new airport to enhance connectivity with neighboring countries such as Indonesia, Malaysia, Brunei and Singapore.
"Palawan is the gateway to Southeast Asia," said Catapang, noting its proximity to key Asean markets.
He also proposed that Palawan and its surrounding areas serve as a "zone of peace, progress and prosperity," reducing tensions in the West Philippine Sea by shifting the focus to economic cooperation.
A major component of the project is food security with plans to develop agricultural hubs that will boost domestic food production and ex-ports.
The initiative aims to attract foreign investment in agribusiness, logistics and sustainable development.
Catapang also disclosed ongoing discussions with the Philippine Economic Zone Authority to designate parts of Palawan as special econom-ic zones.
"This would allow investors to benefit from tax incentives and streamlined business regulations," he said.
The Philippines presented the project at the Asean Regional Conference, where it sought further investor commitments.
"This conference will be crucial," Catapang said. "We are showcasing a vision that aligns with Asean's goals of regional economic integration and food security."
