House Bill 5440, which proposes the creation of the Bacolod Economic Zone Authority (BEZA), passed the House of Representatives Committee on Economic Affairs.
According to Bacolod City lone district Rep. Greg Gasataya, who authored the bill, the law “classifies the city to be a viable location for the establishment of an economic zone.” He noted, once passed, it will result in the “betterment and dispersal of economic growth.”
The lawmaker added, if signed into law, BEZA will create more job opportunities and investments from foreign companies into the city.
According to the Philippine Economic Zone Authority, there are close to 400 operating economic zones in the country.
Gasataya added, BEZA would pave the way for the creation of more economic zones in Negros, which currently has one in San Carlos City, along with Valencia in Negros Oriental./DGB, WDJ