On April 11, 2008, the President of the Philippines issued Proclamation No. 1495 creating and designating 1,072 out of the 3,000-hectare PIE-MO as a Special Economic Zone of PEZA.
On April 30, 2008, a Registration Agreement was signed between PHIVIDEC-IA and PEZA; wherein PHIVIDEC-IA would continue to maintain, manage and operate the PHIVIDEC Industrial Estate while PEZA is to provide the incentives for qualified PEZA-registered enterprises inside PIEMO-SEZ.
On June 29, 2010, the President of the Philippines, through Presidential Proclamation No. 2106, declared the remaining 1,928 hectares included as a Special Economic Zone of PEZA; thus, completing the whole 3,000 hectares of PIE-MO as a Special Economic Zone.