THE Philippine Economic Zone Authority (PEZA) is looking to proclaim a second pharmaceutical economic zone (pharma zone) within the year.
“Some people are vying from other areas. But obviously they would want to see the performance of this park first,” PEZA Director General Tereso O. Panga told BusinessWorld on the sidelines of the official launch of the Victoria Industrial Park late Wednesday.
“But there is one in Tarlac, the one under Lloyd Laboratories. That might be our second pharma zone in the country because the compliance for its proclamation requirements is already ongoing,” he added.
He said that the second pharma zone is targeted for proclamation within the year, as it already has an American partner.
“They will be manufacturing APIs (active pharmaceutical ingredients) and drugs. As you know, Lloyd Laboratories is already in India,” he added.
On Wednesday, the country’s first pharma zone, the Victoria Industrial Park, was officially launched.
“This move is in response to the marching orders of President Ferdinand R. Marcos, Jr. to make medicine more accessible and affordable, to empower Filipino manufacturers, to be self-sufficient, and to be the hub in ASEAN for the pharmaceutical industry, thus strengthening our own local supply chain,” Mr. Panga said.
The 30-hectare park in Victoria, Tarlac is poised “to become a dynamic hub for investment, innovation, medical research, and inclusive progress.”
“We are likewise pleased to highlight that the construction of a satellite laboratory of the Food and Drug Administration has commenced on-site, which will further strengthen our supply chain and advance our healthcare and industrial capabilities,” he added.
He said the FDA laboratory will help in streamline companies’ compliance with FDA-related permits and requirements.
During the event, 13 memoranda of agreement and understanding were signed, reflecting growing interest from investors to locate in pharma zones.
These include agreements with Lifestrong Marketing, Inc., ACP Heavy Industries, Greenstone Pharmaceutical, Goodfield, Ethosperic, Inc., Solstice ECOventures, Inc., Triumphus Ventures, Inc., Medinext, Inc., Revitalix, Inc., Kweens Ventures, Inc., K Food, Verdant Dreams Hong Kong, and Creative Ecohub for Philippine Artistry.
Meanwhile, he said that PEZA is also in talks with Japanese and Chinese-American companies to locate in Victoria Industrial Park.
“We have an incoming big-ticket American investment into nitrile gloves … They will scout around, but we will nominate Victoria Industrial Park,” he added. — Justine Irish D. Tabile
