NEWS AROUND SUBIC BAY

Public Hearing on SB 1325

Posted 4 years ago

 Public Hearing on SB 1325 | Senator Richard Gordon Part 1

At the Moment: Public Hearing on SB 1325 (Central Luzon Investment Corridor) introduced by Senator Richard Gordon at Formosa Hall, Subic Bay Development and Management Corporation (SBDMC). The Purpose of the Bill is to:

1. Promote entrepreneurship by generating investments therefore creating numerous jobs and business opportunities for the people

2. Optimize the connecting highways and railway in Central Luzon; seaports in Subic, Mariveles, Aurora, and Manila; airports in Subic, Clark, and Manila to serve as an investment corridor for Central Luzon and eventually, the whole country;

3. Encourage the Local Government Units (LGU) and the private sector to establish Special Economic Zones and provide incentives therefor by maximizing the creation of infrastructures resulting in numerous employment opportunities for the people.

4. Develop enterprise initiatives, encourage free trade, and foster national and local pride in the Local Government Units (LGU) and private sectors as collective stakeholders and pioneers for change in the development and integration of Subic Bay Freeport Zone (SBFZ), the Clark Freeport Zone (CFZ), the Freeport Area of Bataan (FAB), the Aurora Pacific Economic Zone and Freeport (APECO) and other Special Economic Zones by adhering to the principle of global competitiveness that encourage business investments that are focused, fast, friendly, flexible, and forward-looking through the provision of tax and fiscal incentives to private sectors who relocate to the said areas. Furthermore, by providing additional benefits if the private sector involved initiates to build schools and universities, hospitals, and local groceries within the area;

5. To decongest Metro Manila by dispersing industries and populations to the Subic Bay Freeport Zone (SBFZ), the Clark Freeport Zone (CFZ), the Freeport Area of Bataan (FAB), the Aurora Pacific Economic Zone and Freeport (APECO) and other Special Economic Zones which will improve the quality of life by developing sustainable communities where residents live nearby where they work and where institutions such as schools and universities, hospitals, utilities, among others are within close proximity;

Public Hearing on SB 1325 | Senator Richard Gordon Part 2

6. To lessen dependency on the national government and in the end, make the Local Government Units (LGU), the Bases Conversion and Development Authority (BCDA), Subic Bay Metropolitan Authority (SBMA), the Clark Development Corporation (CDC), the Clark International Airport Corporation (CIAC), the Aurora Province Economic Zone and Freeport (APECO), the Freeport Area of Bataan (FAB), and other subsidiaries self-sustaining, income-generating, and revenue-contributing entities provided the LGUs concerned may actively join subject to their compliance with the Rules and Regulations which will thereafter be established.

7. Create sustainable industrial cities and communities that balances economic growth and expansion having regard to environmental protection and preservation taking into consideration the safe, orderly, convenient, and livable urban space for the people living within their areas of employment, thereby decongesting Metro Manila;

8. Prompt the Local Government Unit (LGU) Concerned to provide public and private financing to the private sectors who wish to relocate within the specified areas to stimulate pump-priming of investments with the end view of providing a better quality of life to all Filipinos.

This is another positive development not only for Subic Bay but Metro Manila and the entire Central Luzon.

DengVaxia | Senator Richard Gordon

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