(FILE PHOTO)

MANILA, Philippines — A parcel of land in Barangay Lourdes in Tarlac City, Tarlac is now established to be a special economic zone (SEZ).

The two-million-square-meter area, now named “TARI Estate,” was designated an SEZ through Proclamation No. 701 issued on Wednesday upon the recommendation of the Philippine Economic Zone Authority.

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The Special Economic Zone Law or Republic Act No. 7916 defines SEZs as lands suited to develop agro-industrial, industrial, recreational, commercial or financial centers.

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READ: Marcos designates land in Victoria, Tarlac as special economic zone

The criteria to qualify as a special economic zone includes a strategic location, existing required infrastructure, a trainable labor force and vacant lands for expansion.

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The law allows SEZs to operate independently and provide its businesses with incentives.

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