Senator Grace Poe has endorsed for plenary approval the committee report on the proposed Bulacan Airport City Special Economic Zone and Freeport or the “Bulacan Ecozone.”
Committee Report No. 209 on Senate Bill No. 2572 establishing the Bulacan Ecozone was signed by majority of the senators in the Senate Committee on Economic Affairs headed by Poe.
“What we are sponsoring today is the next big step–the creation of a special economic zone with the airport project at its heart,” the veteran legislator said in her sponsorship speech of the bill recently.
“No airport is an island.”
“No airport is an island. The success of an airport relies on a whole ecosystem of properly run highways and roads, vibrant markets and industries, and seamless collaboration with its neighboring towns and communities,” the seasoned lawmaker added.
The proposed Bulacan Ecozone will host the new airport being built in the historic province aimed at decongesting the Ninoy Aquino International Airport terminals in Metro Manila.
“Inaasahan natin na makakapagbigay ito mula 800,000 hanggang 1.2 million na trabaho.”
“Based on submitted calculation, tinatayang aabot ng P130.939 billion ang economic potential ng Bulacan Ecozone. At sa tuloy-tuloy nitong pag-unlad, inaasahan natin na makakapagbigay ito mula 800,000 hanggang 1.2 million na trabaho,” the lady senator said.
A body shall be created to be known as the Bulacan Airport City Special Economic Zone and Freeport Authority (BACSEZFA), which shall manage and operate the ecozone.
It will be under the direct control and supervision of the Office of the President.
“The BACSEZFA shall include in its development goals for the Bulacan Ecozone the construction and operation of a domestic and international airport and allied businesses within the framework of national development plans, policies and goals,” according to the committee report.
The development plan shall include a list of projects for the sound and balanced operation of the Bulacan Ecozone consistent with ecological and environmental standards, proper waste management practices, effective flood control and management, mandatory water impoundment, and other productive uses to promote the economic and social development of the municipality of Bulacan and its extensions in particular and the country in general.
The BACSEZFA shall have an authorized capital stock of P2 billion, the majority shares of which shall be subscribed and paid for by the national government and the local government units covering the area.
As to revenue sharing, the corporate income tax collected shall be divided as follows: 40% to the national government; 20% to BACSEZFA for infrastructure development; and 40% to the concerned local government.
Poe highlighted the other features of the bill to address the concerns of stakeholders:
· The metes and bounds of the ecozone has been properly drawn by indicating the exact cities and municipalities covered by the zone. Additionally, any future expansions will be by a presidential proclamation with clearly defined boundaries.
· The Department of Environment and Natural Resources shall be tasked to lead the supervision of environmental concerns inside the Ecozone.
· The oversight function of the Commission on Audit was strengthened by explicitly stating that all of the Ecozone Authority’s transactions are subject to its accounting and auditing rules.
· All incentives have been aligned with the Corporate Recovery and Tax Incentives for Enterprises Act to ensure that there are no tax grants outside of what the current system already provides
· The Bulacan Ecozone’s development plans are with timelines and milestones to ensure that everyone would have the same vision on what BACSEZFA’s role will be on Bulacan’s development and progress.
“Kahit anong proyekto na pangkaunlaran, local man o national, ay napagtatagumpayan lamang kung mayroong sama-samang pagpaplano. At sa panukalang batas na ito, masisiguro na kasama ang Bulacan sa paglipad tungo sa mga bagong oportunidad at pag-asa,” Poe said.
