WebAdmin 8 0 0 4 min to read

Project for Bulacan Airport City may register with PEZA: Plaza

After President Ferdinand “Bongbong” Marcos Jr. vetoed House Bill 7575 creating the Bulacan Airport City Special Economic and Freeport Zone Authority, Director General of the Philippine Economic Zone Authority (PEZA) Charito Plaza proposed an alternative method for the Bulacan Airport City project to be declared a special economic zone (BACSEFZA).

In a statement released on Monday, Plaza suggested that the airport project in Bulacan may be filed with PEZA as a new special economic zone rather than establishing a new investment promotion agency through the proposed BACSEFZA.

“Given that the BACSEFZA is a privately-led development of a new ecozone, it is only proper to register it with PEZA rather than having a new investment promotion agency be enacted into law,” the statement reads. By doing this, the government is relieved of the obligation to establish many IPAs with overlapping objectives and to allocate a yearly budget to legally recognized separate economic zones, according to the speaker.

On Monday, Senator Imee Marcos made the same suggestion about using the PEZA law or resubmitting the legislation.

The two Houses are well aware that this bill has already passed through the trade and rules committees and is currently in its third reading. It’s going to move quickly in the Senate, etc. Mabilis na lang yan. In an interview in the Senate in Pasay City, she stated, “And hopefully, ma-improve na (it will be already improved).

Where will the veto message be sent, thinks the presidential sister?

“Can we adjourn the 18th Congress at this time? There is no plan to convene the 19th Congress. Meron boom (Whom should it be addressed to given that the 18th Congress has been recessed? The 19th Congress is still not in session. There must be a term like the 18th and a half Congress. I don’t think there is any, palagay ko,” she remarked.

The senator said that because the bill received unanimous support in the Senate, which she described as “a very uncommon occasion,” Congress cannot be denied the ability to override the president’s veto.

According to Plaza, in order for a project to be registered with PEZA, it must adhere to the government’s Strategic Investment Priorities Plan’s requirements for tax breaks.

“Landowners or ecozone developers can register with PEZA and construct or build various economic zones where various businesses can locate various industries. By doing this, the land and its natural resources are used appropriately, the PEZA chief continued.

The Chief Executive still needs to make a pronouncement about Special Economic Zones.

Trixie Cruz-Angeles, the press secretary, had declared that despite Marcos’ veto of HB 7575, San Miguel Corp. will continue to lead the building of the Bulacan International Airport.

Please follow and like us:
Tweet 2k
0 0 votes
Article Rating
Notify of
Inline Feedbacks
View all comments

Enjoy this blog? Please spread the word :)

Would love your thoughts, please comment.x