BuCor and PEZA Collaborate to Establish Iwahig Prison as Special Economic Zone

The Bureau of Corrections (BuCor) and the Philippine Economic Zone Authority (PEZA) have formally initiated measures to have the Iwahig Prison and Penal Farm (IPPF) in Palawan declared a special economic zone by the Office of the President.

BuCor Director General Gregorio Pio Catapang and PEZA Director General Tereso Pangan signed a joint memorandum circular on November 20 to facilitate this development. Catapang explained that this agreement aids the transfer of exclusive rights over a specified area within the IPPF, earmarked for ecozone development.

"This documentation is essential for submission to the President for the formal proclamation," Catapang stated.

In accordance with a supplemental agreement from June 9, PEZA has been granted exclusive use and management rights over the IPPF land for 50 years, with an option to renew for another 25 years.

Catapang highlighted the significance of this collaboration, saying, "This long-term partnership between government agencies demonstrates our commitment to transforming the Palawan Mega Economic Zone into a dynamic center for business and investment."

Under the agreed revenue-sharing scheme, PEZA will remit 90 percent of monthly rental income from businesses operating within the ecozone back to BuCor, retaining 10 percent as management fees.

BuCor will ensure clear legal title of the property and is responsible for securing all required government permits, including environmental clearances and local government endorsements.

Meanwhile, PEZA will prepare the necessary documents for the Presidential Proclamation and coordinate with the technical working group to guarantee the completeness of all required submissions.

This initiative is expected to advance economic growth in Palawan by attracting investments and promoting sustainable development within the IPPF area.