1 month ago
9
VICTORIA, Tarlac — The launching of Victoria Industrial Park (VIP) special economic zone is seen to spur further development in the province where the country's first pharmaceutical and medical devices will be housed.
INDUSTRIAL PARK The frontage leading to the 30-hectare land in Barangay Baculong in Victoria town where Victoria Industrial Park will rise and seen to spur development in the province. PHOTO BY JERRY HERNANDEZ
Located within the vast 30-hectare land in Barangay Baculong in this town, VIP is also expected to become a model and pharmaceutical powerhouse across Asia by providing essential and affordable medicines.
It is dedicated to local medicine production of quality health care in accordance with President Ferdinand Marcos Jr.'s health program.
Aside from lowering the cost of medicines, local manufacturing will also get a boost and more investments can be at-tracted to realize the mission of contributing to economic development not only for Tarlac but for the entire country.
Tarlac 2nd District Rep. Christian Yap said it is the realization of his dream to provide more jobs for Tarlaqueños.
Get the latest news
delivered to your inbox
Sign up for The Manila Times newsletters
By signing up with an email address, I acknowledge that I have read and agree to the Terms of Service and Privacy Policy.
"Governor Susan [Yap] and I are always contemplating on how we can provide more livelihood for our constituents through our 'Trabaho Muna' pillar of governance, and this project paved the way for its realization," said Representa-tive Yap.
The project is an offshoot of the collaborative efforts of Philippine Economic Zone Authority (PEZA) and Food and Drugs Authority (FDA) upon the instruction of President Ferdinand Marcos Jr. following the issuance of Proclamation 623 signed by Executive Secretary Lucas Bersamin in July last year.
PEZA Director General Tereso Panga said the VIP is the first of its kind and will impose tax holidays and incentives to lower cost of production.
Meanwhile, FDA Director General Samuel Zacate noted that there are around 20 to 30 investors that signified potential ventures in the area, including its own laboratory, which is already in the process of operations.
The event was also graced by regional officials of certain government agencies and foreign investors, including thou-sands of residents.
