Question & AnswerQ&A (PROCLAMATION NO. 1626)
The legal basis is Republic Act No. 7916, also known as the Special Economic Zone Act of 1995, as amended by Republic Act No. 8748.
The President of the Philippines, upon recommendation of the Board of Directors of the Philippine Economic Zone Authority (PEZA), has the authority to create and designate an Information Technology Park.
The total aggregate area is 10,846 square meters, more or less.
It is situated at certain parcels of land at Ortigas Avenue corner Epifanio Delos Santos Avenue, Barangay Ugong Norte, Quezon City.
The resolutions of the Board of Directors of the Philippine Economic Zone Authority, specifically Resolution No. 00-411 dated 29 December 2000 and Resolution No. 08-127 dated 28 February 2007, are applicable.
The technical description precisely identifies the boundaries and dimensions of the land parcels being designated as the Information Technology Park, ensuring legal clarity and proper registration.
The land titles include TCT Nos. RT-10703, RT-10704, RT-10705, 330765, and 61203, representing lots within the Cubao district of Quezon City.
PEZA is responsible for recommending the creation and designation of special economic zones like the Information Technology Park, as well as overseeing their management and development.
The purpose is to promote and support the growth of information technology and related industries by providing a special economic zone with incentives and regulatory frameworks favorable to such investments.
It was signed on September 19, 2008.