Two Negros provinces among 7 named special economic zones

President Gloria Macapagal-Arroyo signed an Executive Order yesterday morning designating seven geothermal-producing provinces, including Negros Occidental and Oriental, as special economic zones in a move to attract investors, accelerate the development of the country's geothermal resources and bring down power costs.

Negros Occidental Acting Gov. Isidro Zayco welcomed the move that he said will boost employment and the economy of Negros Island. "We are so happy the President included Negros Occidental," he said.

The announcement of the President is good news for Negros Occidental because it will compliment the economic zone being built in Sagay City, Zayco said.