Bacolod ecozone gets Senate panel’s nod
House Bill No. (HBN) 10284 seeking to establish a Special Economic Zone and the Bacolod Economic Zone Authority has been approved by the Senate Committee on Economic Affairs, Bacolod City Rep. Greg Gasataya said.
Gasataya, author of HBN 10284, said the measure aims to propel and strengthen the local economic scene and provide employment to Bacolodnons.
“The establishment of a Special Economic Zone and an Economic Zone Authority in the city will provide economic incentives to motivate both local and foreign investors to invest in the city and boost the local commercial scene,” the congressman said. (https://bit.ly/3HXLYIu)
“This will further provide employment, business opportunities, export and comparative advantage opportunities, more competitive wages, and an increase in land and property valuation,” he added.
The proposed law also “provide opportunities for graduates and skilled workers of our scholarship programs to seek employment in the local scene as opposed to migrating.”