BACOLOD City – Cong. Greg Gasataya refiled his House Bill (HB) No. 292 establishing the Bacolod Economic Zone Authority (BEZA).
The bill aims to spur special economic zones in the city projected to generate employment and persuade local skilled workers not to seek employment elsewhere.
“Investors both foreign and local may also invest in industries in our city such as manufacturing, which in turn would entail more competitive wage rates,” said Gasataya.
In 2019 he filed the said bill; it was approved in the House of Representatives on the third and final reading but it did not make it in the Senate.
It was only passed at the level of the Committee on Economic Affairs chaired by Sen. Imee Marcos, the solon explained.
Gasataya said, “We filed this bill as existing economic zones in Clark and Cavite have shown promise in local economic, social, and cultural growth. Through this bill, we will be able to further propel Bacolod’s growth.”
Gasataya also said, the city at present has amenities to accommodate both local and foreign investments and further economic growth with little to no congestion issues in comparison to other metropolitan areas.
He added that 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.”/PN
