Ferdinand Marcos Jr. has designated a 28.8-hectare information technology park in Lipa City, Batangas as a special economic zone, placing the development under the Philippine Economic Zone Authority (PEZA). The proclamation cited Republic Act No. 7916, or the Special Economic Zone Act of 1995, as well as the National Internal Revenue Code as amended by Republic Act No. PEZA oversees economic zones and promotes investments in export-oriented manufacturing, IT and other industries. The government expects the Lipa City development to attract local and foreign investment and create jobs while expanding the country’s infrastructure for technology and digital businesses.