Zubiri respects veto of Bulacan Airport SEZ bill
SENATORS Joel Villanueva and Juan Miguel Zubiri said they respect President Ferdinand Marcos Jr.’s prerogative in his decision to veto House Bill 7575 or An Act Establishing the Bulacan Airport City Special Economic Zone and Freeport.
However, Villanueva find the decision unfortunate, as the proposal has the potential to create a lot of jobs for Filipinos.
“We fully supported the passage of the Bulacan freeport bill as it aims to provide jobs and livelihoods for our kababayans, as well as develop the country’s economy with investments and infrastructure,” Villanueva said.
“As we prepare for the 19th Congress, we look forward to working with the new administration and push for proposed legislations and policies in harmony with the priorities of the executive branch, especially when it comes to job generation for all Filipinos,” he added.
The senator also promised to carefully study on refiling the bill, and even consider other possible proposals such as strengthening the PEZA Law.
Meanwhile, Zubiri said aside from the veto powers of the President under the Constitution, he also respects and recognizes the position of the Department of Finance that no new economic zone shall be established.
However, the senator explained that the CREATE law does not ban the establishment of new economic zones as long as it conforms with the new fiscal and non-fiscal incentives under the CREATE law and as long as it conforms with the strict regulatory powers of the Fiscal Incentives Review Board (FIRB).
“The Bulacan Airport City Special Economic Zone is envisioned to complement the construction of one of the largest airports in the region and to make it not just a transportation hub but a manufacturing hub as well, in the hope of bringing in much-needed investments and thousands of jobs for the people of Central Luzon. That is why we made sure that the bill conforms with the provisions of CREATE law on the new incentives regime. The Veto is unfortunate but it is a Presidential perogative,” he stressed.
