16.3 C
Thursday, September 21, 2023
HomeSportsPeza, DOST team up to establish KIST parks

Peza, DOST team up to establish KIST parks


MANILA – The Philippine Economic Zone Authority (Peza) has signed a partnership agreement with the Department of Science and Technology (DOST) for the establishment of Knowledge, Innovation, Science and Technology (KIST) parks in the country, a move seen benefiting local startups. as well as small and medium-sized companies.

During the signing ceremony on Thursday at the DOST office in Taguig, Peza CEO Tereso O. Panga said the government wants to strengthen the manufacturing sector by creating an environment conducive to research and development (I +D), as well as for innovation.

“Through KIST parks, our goal is to encourage the production of a wide range of unique products and services, using our indigenous materials and talent. To take the lead in our region, we must focus on improving and expanding our productive capabilities,” Panga said during his speech.

“KIST Parks will play an important role in increasing R&D infrastructure, fostering R&D collaboration with foreign partners, facilitating technology transfer, and enhancing the skills of our workforce toward innovation,” he further said, and added that DOST can help improve the country’s overall innovation index. classification.

Under the agreement, DOST will provide technical assistance to Peza in connection with activities planned by potential locators at KIST parks.

It will evaluate, as well as grant guarantees for qualified locator companies in these economic zones.

Peza will continue to be responsible for registering these locator companies and for administering the incentives for these companies.

In early May, Peza and Catanduanes State University (CatSU) led a groundbreaking ceremony for the planned KIST park and agro-industrial processing zone in Catanduanes province, which will become the first in the Bicol region once are finished.

KIST parks are among the new types of economic zones that Peza is currently promoting, and the others include aerotropolises, agroforestry economic zones, water parks, biotech centers, defense industrial complexes, e-commerce zones, food production centers, and halal, and jewelry parks.

Government investment promotion is also driving the creation of mineral processing zones, pharmaceutical zones and renewable energy parks.

To date, there are more than 420 economic zones spread across the Philippines, 187 of which are in the National Capital Region.

Your subscription could not be saved. Try again.

Your subscription has been successful.

read next

Don’t miss out on the latest news and information. Euro advances to 15 year high against yen after ECB hikes.svg 1686914812 622 Euro advances to 15 year high against yen after ECB hikes.svg

subscribe to ASK MORE to get access to The Philippine Daily Inquirer and over 70 other titles, share up to 5 devices, listen to the news, download from 4am and share articles on social media. Call 896 6000.

For comments, complaints or queries, Contact Us.

Merry C. Vega is a highly respected and accomplished news author. She began her career as a journalist, covering local news for a small-town newspaper. She quickly gained a reputation for her thorough reporting and ability to uncover the truth.

Latest stories