BACOLOD City – The House of Representatives’ Committee on Economic Affairs has approved on first reading a bill establishing the Bacolod Economic Zone Authority (BEZA).
Cong. Greg Gasataya, who filed the proposed bill in 2019, said the BEZA aims to identify areas in Bacolod that may be converted into economic zones or special economic zones, either for manufacturing, information technology, or entertainment, or also for the establishment of a free port for the city.
Once approved in the Senate and signed by the President, Gasataya said the BEZA will generate thousands of jobs because foreign companies will start investing in Bacolod as it has vast areas of land that can be converted into economic zones.
“If the bill becomes a law, it will create more job opportunity in the city and possible foreign companies to invest here,” the solon added.
Gasataya also said Bacolod 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