The Philippine Senate Session Hall (PNA file photo by Avito Dalan)
MANILA - Voting 22 against zero with no abstention, the Senate on Monday approved on third and final reading Senate Bill No. 2572 or the Bulacan Airport City Special Economic Zone and Freeport Act.
Senator Grace Poe, who sponsored the measure, is hopeful that the country is poised to obtain significant economic growth with the timely approval of the measure alongside the recent signing of the concession agreement for the rehabilitation of the Ninoy Aquino International Airport.
"It brought about a lot of hope because I feel now the gateway of many of our visitors to our country will be much improved,” Poe, who also chairs the Senate Committee on Public Services, said.
“In the same way, I have high hopes for this Ecozone, that it will spur investments, create more jobs, and will be a model, not just here in the Philippines, but all over Asia that could hopefully increase our GDP (Gross Domestic Product)," Poe added.
The creation of Bulacan Ecozone or BuZ stands to generate up to 1.2 million jobs and bring in around PHP37.84 billion to PHP130.9 billion worth of investments, said Senator Joel Villanueva, co-sponsor of the bill.
"Sa atin pong co-sponsorship speech para sa panukalang ito, atin pong ibinahagi ang ating paniniwala na marami pang maihahandog at napakalaki pa ang potensyal ng lalawigan ng Bulacan upang higit pang makapag-ambag sa ating pambansang kaunlaran (In our co-sponsorship speech for this measure, we shared our belief that Bulacan has a big potential and more to offer in contributing to our national development). The passage of this measure is a step towards achieving this hope and vision," Villanueva said.
Both Poe and Villanueva assured that the measure has enough safeguards to guarantee that the creation and operations of the BuZ will be within the framework of the Constitution, the Local Government Code, and national development plans, policies, and goals.
Under the bill, the Bulacan Special Economic Zone and Freeport Authority would be created to manage and operate the Bulacan Ecozone. (PNA)
