Tagbilaran: President Ferdinand R. Marcos Jr. has issued Proclamation 821, creating a new special economic zone in Tagbilaran City, Bohol. Under Proclamation 821 inked by Marcos on March 6, he designated three parcels of land with an aggregate area of 11,237 square meters in Dampas, Tagbilaran City as an information technology (IT) park. The IT park, located at Corner H. Zamora Street and Satellite Road in Dampas village, will be known as Tagbilaran Uptown IT Hub 2, according to the proclamation.

According to Philippines News Agency, Proclamation 821 was issued upon the recommendation of the Philippine Economic Zone Authority's Board of Directors and by virtue of Republic Act (RA) 7916 or the Special Economic Zone Act of 1995, as amended by RA 8748. In 2021, Proclamation 1151 was also issued, designating a 13,866-square-meter land along Rajah Sikatuna Ave. in Dampas as an IT park now known as Tagbilaran Uptown IT hub. The Tagbilaran Uptown IT hub is the first IT park in Bohol province.

RA 7916, signed into law on Feb. 24, 1995, aims to encourage economic growth through the development of special economic zones called 'ecozones.' Special economic zones are defined in the law as 'selected areas with highly developed or which have the potential to be developed into agro-industrial, industrial, tourist/recreational, commercial banking, investment and financial centers.' An ecozone may contain industrial estates, export processing zones, free trade zones, and tourist/recreational centers.

IT parks are hubs entitled to all benefits given to special economic zones to make it more attractive to foreign investors who would want to set up their own business process outsourcing offices.