Purpose and Designation
- Designates the Pacific Star Building as an Information Technology Center (IT Center).
- Establishes the Pacific Star Building located at the corner of Senator Gil J. Puyat Avenue and Makati Avenue, Makati City as a special economic zone for IT activities.
Physical Description and Location
- The IT Center covers a lot of approximately 6,500 square meters.
- The land is identified as Lot 30-C under Technical Certificate of Title No. 22738.
- Located in the City of Makati, Metro Manila, Island of Luzon.
- Boundaries are clearly established and detailed with reference to adjacent streets and lots, including Buendia Avenue Extension (now Senator Gil J. Puyat Avenue) and Makati Avenue Extension.
- Coordinates and measurements of land boundaries are precisely described, supported by geodetic survey data.
Applicable Laws and Regulations
- The designation is subject to the provisions of Republic Act No. 7916 as amended, including its Implementing Rules and Regulations.
- Specific PEZA Board Resolutions (No. 00-411 dated December 29, 2000, and No. 06-300 dated July 11, 2006) also govern the implementation.
Legal Effect and Formalities
- The proclamation creates a legally recognized IT Center, allowing special economic incentives and regulatory environment under PEZA.
- The boundaries and technical description are legally established and shall be used for official and administrative purposes.
- Officially signed by the President and sealed by the Republic of the Philippines.
- Executed in the City of Manila on December 11, 2006, with certification by the Executive Secretary.
Significance
- Enables the Pacific Star Building to attract investments and enterprises focused on information technology.
- Supports the government's push for economic growth through IT industry development within designated special economic zones.
- Facilitates streamlined regulatory processes and potential incentives for IT companies operating within the zone.