Aboitz firm gets 4th economic zone

President Marcos has designated a 200-hectare parcel of land in Tarlac City as a special economic zone for a new industrial development complex owned by his friend and businessman Sabin Aboitiz. Proclamation No. 701 created a new economic zone in Barangay Lourdes, Tarlac City, to be known as Tari Estate, upon the recommendation of the Philippine Economic Zone Authority. Launched in May this year, Tari Estate is Aboitiz InfraCapital’s newest economic estate in Central Luzon and is expected to create up to 60,000 new jobs. The Tari Estate will integrate retail and office spaces, residential areas, dormitories, warehouses and hospitality spaces. It will be part of the Luzon Economic Corridor, the Marcos administration’s comprehensive infrastructure development initiative aimed at improving connectivity and supply chains, and boosting economic growth across Luzon. Aboitiz InfraCapital is part of the Aboitiz Group of companies led by Aboitiz, its president and chief executive officer. Aboitiz is also the lead convener of the Private Sector Advisory Council that advises the President. The Tari Estate is Aboitiz InfraCapital’s latest economic estate, after its 900-hectare industrial park established in Batangas. —JULIE M. AURELIO