Science Park of the Philippines Inc., a unit of Investment and Capital Corporation of the Philippines, is developing a P3-billion industrial park in Malvar, Batangas province, its fourth in the south.
ICCP chairman and chief executive Guillermo Luchangco said the company received the go-signal from Malacañang through a proclamation order to develop Light Industry and Science Park IV, LISP IV, in Batangas.
“We’re opening up another in Malvar [Batangas]. Both the Trade Department and Peza [Philippine Economic Zone Authority] said there is a shortage in industrial spaces for locators. Good thing we just received the approval,” he said at the sidelines of launch of the Philippines Report 2016 by the Oxford Business Group.
ICCP is actively pursuing more industrial parks in the Philippines to lure foreign investors who wanted to put up manufacturing businesses in the country.
Luchangco cited a renewed interest from European investors as well as Americans to set up manufacturing operations here. Japanese and Taiwanese companies were also keen on doing business here.
“There is a long line waiting for us to get proclaimed. Right after the approval, we already signed 12 hectares,” he said.
LISP IV covers about 200 hectares and another 40 to 50 hectares of combined residential and commercial spaces.
LISP IV is strategically located along the Southern Tagalog Arterial Road, providing convenient access from Metro Manila’s commercial business district. It is 35 kilometers away from Batangas international seaport.
The industrial park has ready access to amenities and the necessary infrastructure in place for manufacturing operations.
ICCP is also interested in establishing another industrial estate within two years.
Luchangco said the company was looking at the best site for a fifth industrial park possibly in Visayas or Mindanao.
The development of LISP IV is expected to make SPPI the biggest developer of industrial estates with combined area of more than 800 hectares.
SPPI developed the first LISP in Cabuyao, Laguna in 1991. LISP II operates in Calamba, Laguna while LISP III is in Sto.Tomas Batangas.
“Calabarzon [Cavite, Laguna, Batangas, Rizal, Quezon] is a favorite [investment hub] among investors. Most of them prefer to set up businesses in these areas probably because of its proximity to Manila,” said Luchangco.