Question & AnswerQ&A (PROCLAMATION NO. 669)
Republic Act No. 7916, otherwise known as the "Special Economic Zone Act of 1995," as amended by Republic Act No. 8748, empowers the President to create and designate parcels of land as IT Parks.
The Board of Directors of the Philippine Economic Zone Authority (PEZA) recommended the creation and designation of the Uptown Bonifacio IT Park.
The IT Park created is officially known as the Uptown Bonifacio.
The total area designated as Uptown Bonifacio IT Park is approximately 144,613.58 square meters.
The IT Park creation is subject to the provisions of RA No. 7916, its Implementing Rules and Regulations, and PEZA Board of Directors Resolutions No. 00-411 (s. 2000), No. 04-295 (s. 2004), and No. 11-377 (s. 2011), as amended.
Multiple parcels of land identified by their Lot and Block numbers including Reserved Access Lots and subdivision/consolidation plans within the Barangay of Fort Bonifacio were included in the designation.
The technical descriptions precisely define the boundaries and locations of the parcels of land that constitute the IT Park to avoid disputes and for official government and legal recognition.
The proclamation bears the seal of the Republic of the Philippines and is signed by the then President Benigno S. Aquino III and the Executive Secretary Paquito N. Ochoa Jr.
Yes, the creation and designation as an IT Park become effective upon the signing and publication of the proclamation, subject to compliance with the governing laws and PEZA regulations.
The purpose is to promote economic growth, particularly in the information technology sector, by providing special economic benefits and infrastructure within the designated IT Park area.