This study reviewed and assessed the establishment of an economics zone on the Philippines’ eastern seaboard by examining: (i) the potentials and risks involved in development; (ii) the physical and economic interventions to reduce potentials for the development of an economic zone on the eastern seaboard; and (iii) the determinants of Special Economic Zone Development on the Philippines’ Eastern seaboard.
The identified determinants of establishing a special economic zone in the eastern seaboard were categorized according to social, economic, natural environment, infrastructure and organizations factors. In the course of the discussion of these factors the facilities and hindering factors were clearly identified. They are the potentials and risks that needed attention at the onset in the course of an economic zone development.
The potentials that were identified are mostly related to the natural resources in the area that can be cultivated, tapped or harnessed in order to support an economic activity. Among these are the available marine and land resources, renewable energy sources, the proximity of the location to target market. But there are also risks associated with the geographical location such as the area is prone to typhoons, earthquakes, landslides, liquefaction, and tsunami. These risks and potentials can be addressed using engineering measure which therefore entails infrastructure development and thus, economic support from the government or participation of the private sector through PPP.
The thrusts of Aurora Pacific Economic Zone and Freeport (APECO/APEFZ) which are the agro-processing, aquaculture, tourism, and light industry have increased the possibility of locals to participate in this economic undertaking since most of them are farmers and fishermen.