Bacolod lone district Rep. Greg Gasataya recently filed a bill seeking direct foreign investments into special economic zones. The proposal is coupled with HB 5440, which was earlier filed before the House of Representatives and calls for the creation of the Bacolod Economic Zone Authority.
“Bacolod City, at present, has the amenities to accommodate both local and foreign investments, and further economic growth, with little-to-no congestion issues in comparison to other metropolitan areas,” the congressman explained. “The law on special economic zones clearly classifies Bacolod to be a viable location for the establishment of an economic zone that, once put up, will lead to the betterment and dispersal of its economic growth.”
The Philippine Economic Zone Authority website notes, there are close to 400 economic zones in operation throughout the country.
Meanwhile, Gasataya said the move would pave the way for the creation of more economic zones in the province.
There is currently one economic zone in Negros Occidental, located in San Carlos City; while Negros Oriental also has one in Valencia./DGB, WDJ