Renowned businessman and senatorial candidate Luis “Chavit” Singson is eyeing to create more ecozones in the area as part of his thrust of making the country an economic powerhouse in Asia.
During a press conference held at the Choi Garden Park PH, Manong Chavit said that creation of ecozones in the Philippines would further boost the number of businesses investing in the country, adding that this would lessen the bureaucracy.
He said that he once proposed to create an economic zone in Ilocos Sur, but was not supported by the government. He added that the economic zones he established in South Korea is currently flourishing and continuous to churn out jobs.
He recently signed a Memorandum of Agreement (MOA) for the construction of the K-Beauty Industrial Complex in Incheon, which serves as a hub for the creation of beauty and aesthetic products. He said that this new complex will create more jobs, while offering educational opportunities for Filipino students to gain expertise in one of the world’s leading cosmetic markets.
The K-Beauty Industrial Complex will focus on research, production, and trade, creating a space for growth and innovation within the beauty sector. By aligning with South Korea’s advanced cosmetics industry, Singson aims to equip the Philippine workforce with skills that are competitive globally.
The former Ilocos Sur governor said that ecozones are engines for economic growth and job creation, citing that the country is full of potential but has been plagued with bureaucracy, red tape, and corruption.
“Our country is full of potential, but the bottleneck caused by government inefficiencies often holds us back from realizing our full economic potential,” Singson noted. Despite these obstacles, he is determined to push for reforms that will streamline processes and attract investments.
Singson’s vision extends beyond industrial growth. During his recent visit to Ilocos Sur last week, he addressed pressing issues like unemployment and the challenges posed by the PUV Modernization Act. With the phaseout of traditional jeepneys, he pledged to support transport cooperatives with funding to transition to electric vehicles.
In addition to supporting the transport sector, Singson announced the launch of “VBank,” an initiative aimed at increasing financial inclusion across the country. VBank will allow more Filipinos to access banking services, including debit and credit cards, especially in underserved communities. The platform will also serve as a payment option for modernized PUVs and a tool for the proposed “Chavit 500” initiative, designed to provide financial aid to lower-income families and small businesses.
Through these efforts, Singson hopes to create a more inclusive economy and provide practical solutions to the everyday challenges faced by Filipinos.