Sen. Zubiri
Sen. Juan Miguel “Migz” Zubiri presided over the Committee on Economic Affairs hearing on the establishment of special economic zones in Ilocos Sur and Antique.
In tackling Senate Bill No. 1599 and, House Bill No. 9075 (Ilocos Sur Special Economic Zone Act), and SBN 2322 (Antique Special Economic Zone Act) during Wednesday’s hearing, Zubiri said, “Our economic zones bring tremendous growth to our country, creating avenues for infrastructural development and creating employment opportunities for our people and give good skilled jobs and good wages to match. So naturally, we want to set up more of them, especially in areas far from existing ecozones.”
SBN 1599 seeks to establish a special economic zone that will cover a particular area located in the municipalities of San Juan and Cabugao, Province of Ilocos Sur, and will be managed and operated by the Ilocos Sur Special Economic Zone Authority (ISSEZA).
While SBN 2322 seeks to: 1) establish, develop, and operate a self-sustaining industrial, commercial, financial, investment, and tourism center in the province of Antique; 2) encourage and attract legitimate and productive foreign investors and business locators by providing fiscal incentives; 3) expand and deepen Antique’s growth and productivity, and raise the quality of life and the living conditions of its people through the creation of jobs and income opportunities; and 4) preserve its Indigenous heritage, and to sustainably develop, manage and protect its rich marine and coastal resources
Sen. Legarda
Meanwhile, Sen. Loren Legarda, during the public hearing conducted by the Committee on Economic Affairs on Senate Bill No. 2322, otherwise known as the Antique Special Economic Zone Act of 2023, said the proposed measure seeks to spur economic growth in the area. According to her, Antique is a breath-taking province with excellent investment potential.
“This bill seeks to address the disparities by creating a dynamic and self-sustaining economic hub incorporating sectors such as industry, commerce, financial services, tourism, and agriculture, among others,” Legarda said.
She added that the creation of the Antique Special Economic Zone would attract both domestic and foreign investments to the province.