A bill establishing the Bulacan Special Economic Zone and Freeport, and creating the Bulacan Special Economic Zone and Freeport Authority, or the “Bulacan Special Economic Zone and Freeport Act” has lapsed into law on June 13.
The bill will be known as Republic Act 11999, or the “Bulacan Special Economic Zone and Freeport Act.”
Under the law, the Bulacan Special Economic Zone and Freeport will be known as the “Bulacan EcoZone,” or (BuZ), which shall cover the airport project and the airport city project while the Bulacan Special Economic Zone and Freeport Authority, or the BEZA will manage the BuZ.
The BEZA shall be organized within 180 days upon the effectivity of the law, which will take effect 15 days following the completion of its publication in the Official Gazette, or in a newspaper of general circulation.
In consultation with the National Economic and Development Authority (NEDA), the BEZA shall establish the general framework for land use, planning and development for the area covered by BuZ, consistent with the Philippine Development Plan of the government.
A copy of the law can be accessed on the Official Gazette where other chapters such as Incentives to Ecozone Enterprises/Investors; National Government and other Entities; and Miscellaneous Provisions are stated. | PND
