HB07575: AN ACT ESTABLISHING THE BULACAN AIRPORT CITY SPECIAL ECONOMIC ZONE AND FREEPORT, PROVINCE OF BULACAN AND APPROPRIATING FUNDS THEREFOR
This House Bill proposes the establishment of the Bulacan Airport City Special Economic Zone and Freeport (Bulacan Ecozone) in the Province of Bulacan. The primary aim is to encourage, promote, and accelerate the country's industrial, economic, and social development by attracting legitimate and productive foreign investments, generating employment, and increasing productivity and incomes. The Bulacan Ecozone will include a domestic and international airport, an adjacent Airport City, and other contiguous lands, managed and operated by the newly created "Bulacan Airport City Special Economic Zone and Freeport Authority" (BACSEZFA).
The bill outlines various powers and functions for the BACSEZFA, including registering and regulating enterprises, coordinating with LGUs, and developing necessary infrastructure such as utilities, transportation, and telecommunications. It also provides fiscal incentives to registered enterprises, such as tax and duty-free importations of raw materials, capital, and equipment, and grants an investor's visa for foreign nationals investing a significant amount. The goal is to establish a decentralized, self-reliant, and self-sustaining industrial, commercial/trading, agro-industrial, tourist, banking, financial, and investment center.