Sen. Grace Poe (File photo from the Senate Social Media Unit)
MANILA, Philippines — The Senate on Monday approved the third and final reading of Senate Bill (SB) No. 2572, which calls for the creation of the Bulacan Special Economic Zone and Freeport.
Twenty-two senators gave affirmative votes to the measure.
A similar measure, House Bill No. 8841, has already been approved by the House of Representatives.
Sen. Grace Poe, chair of the Senate Committee on Economic Affairs and sponsor of the measure, said SB 2572 was expected to usher in a “new age of economic opportunities and investments” in the country.
She thanked her colleagues for seeing the project’s potential as a “growth catalyst.”
“[F]rom the current state of this submerged wasteland, you believe it could be so much more,” she said. “I am proud to say through our collective brainstorming, we have crafted a vastly improved bill that adheres to constitutional provision on land conversion; that balances economic growth with environmental protection, and that warrants greater LGU (local government unit) representation at its helm.”
“It will spur investments, create more jobs, and will be a model, not just here in the Philippines, but all over Asia. With this measure, the Bulakenyos and the rest of the country can expect a world-class economic zone that we can be proud of,” she added.
Also called Bulacan ecozone, the project will host the new international airport being built by tycoon Ramon Ang of San Miguel Corp. in the province as part of efforts to decongest the Ninoy Aquino International Airport terminals in Metro Manila.
Majority Leader Joel Villanueva, who hails from Bulacan, lauded the passage of the measure, describing it as “groundbreaking” as it could generate up to 1.2 million jobs and bring in about P37.84 billion to P130.9 billion of investments in the area.
He also thanked Poe for accepting his proposals to increase the LGU representation on the board of directors of the Bulacan Special Economic Zone and Freeport Authority, which will manage and operate the ecozone.
READ: Sen. Grace Poe files bill pushing for Bulacan ecozone
He assured the public that the measure would promote the protection of the environment, improve the management of natural resources in the ecozone, and ensure the transfer of technology and skills to Filipino workers through the implementation of an understudy and skills development program.
Poe added that the development plan would include projects for the sound and balanced operation of the Bulacan ecozone consistent with ecological and environmental standards, proper waste management practices, and effective flood control and management.
She added that the bill also addressed the executive department’s concerns.
In July 2022, President Ferdinand Marcos Jr. vetoed a similar bill, citing “substantial fiscal risks to the country.”