Cecille Suerte Felipe – The Philippine Star
May 27, 2022 | 12:00am
The Senate approved on third and final reading yesterday a measure seeking to establish the Bulacan Airport City Special Economic Zone and Freeport Authority.
With 21 affirmative votes, no negative vote and no abstention, the senators approved the measure, which shall be responsible for establishing, building, operating and maintaining public utilities and other services and infrastructure in the area.
Under the proposal, the Bulacan ecozone shall have a domestic and international airport to be developed and operated as a decentralized, self-reliant and self-sustaining industrial, commercial, trading, agro-industrial, tourist, banking, financial and investment center with suitable residential areas.
The ecozone shall be equipped with transportation, telecommunications and other facilities to attract legitimate and productive investments as well as generate linkage industries and employment opportunities for residents of Bulakan town and neighboring areas.
The Bulacan ecozone may establish mutually beneficial economic relations with foreign entities or enterprises subject to the administrative guidance of the Department of Foreign Affairs, Philippine Economic Zone Authority and Department of Trade and Industry (DTI) with foreign entities or enterprises.
The DTI, Department of Finance and National Economic and Development Authority will be tasked to draft the implementing rules and regulations of the measure once it is enacted into law.
Source: https://www.philstar.com/nation/2022/05/27/2183932/senate-oks-bulacan-airport-ecozone-bill