By Angeline Valencia
TAGBILARAN CITY, Bohol, Feb. 15 (PNA) — Bohol will soon establish a special economic zone once the bill for its purpose pass muster at the Senate level.
Third District Rep. Arthur Yap filed another bill in substitution of House Bill Number 192 which he filed earlier, considering the revision of some points.
The measure will be known as the “Bohol Special Economic Zone Act of 2014”, that is aimed at creating the Bohol Special Economic Zone Authority (BEZA), and appropriating funds for the purpose.
The bill already passed the Committee on Appropriations and it is set for discussion at the House Plenary.
After the House Plenary, it will be referred to the Senate, according to Yap.
The Bohol Ecozone shall cover certain areas in the municipality of Jagna and that a Presidential proclamation is needed later to define its “specific metes and bounds.
It may also establish liaison offices within the Philippines as may be necessary for the proper conduct of its business, Yap explained.
BEZA, when created, will have its principal office in Jagna, Yap added.
The Bohol solon pointed out that the measure will prompt the national government to make it a policy “to actively encourage, promote, induce and accelerate a sound and balanced industrial, economic and social development of the country in order to provide jobs to the people especially those in the rural areas, increase productivity, raise individual and family income”.
It would “thereby improve the level and quality of living condition through the establishment, among others, of special economic zones in suitable and strategic locations in the country and through measures that will attract legitimate and productive foreign investments”, according to Yap.
The BEZA to be created will manage and operate the Bohol Ecozone and this corporate franchise will expire in 50 years counted from the first year after the effectivity of the measure as proposed in the bill unless extended by Congress.
It shall be organized within one 180 days after the proposed measure takes effect.
Yap also said “BEZA shall have an authorized capital stock of P2 billion no-par shares with a minimum issue of P10 each, the majority shares of which shall be subscribed and paid for by the national government and the LGUs embracing the Bohol Ecozone”.
“The Board of Directors of the BEZA may, with the written concurrence of the Secretary of Finance, sell shares, representing not more than 40 percent of the capital stock of the BEZA to the general public under such policy as the Board and the Secretary of Finance may determine. The national government and the LGUs shall, in no case, own less than 60 percent of the total issued and outstanding capital of the BEZA,” according to Yap.
He also said “the amount necessary to subscribe and pay for the shares of the national government to the capital stock of the BEZA shall be included in the annual General Appropriations Act, and for LGUs, the funds shall be taken from their internal revenue allotment and other local funds”.
The functions of BEZA includes recommend to the President, the issuance of a proclamation to fix and delimit the site of the Bohol Ecozone; operate, administer, manage and develop the Bohol Ecozone; register, regulate and supervise the enterprises in the Bohol Ecozone in an efficient and decentralized manner, subject to existing laws; issue certificates of origin for products manufactured or processed in the Bohol Ecozone in accordance with prevailing rules of origin, and the pertinent regulations of the PEZA, the DTI and/or the Department of Finance (DOF).
The BEZA will also authorize or undertake, on its own or through others, and regulate the establishment, operation and maintenance of public utilities, services and infrastructure in the Bohol Ecozone such as shipping, barging, stevedoring, cargo handling and storage, warehousing, port services or concessions, piers, wharves, bulkheads, bulk terminals, mooring areas, storage areas, roads, toll roads, bridges, terminals, conveyors, sewerage, drainage, and airport operations, in coordination with the Civil Aviation Authority of the Philippines (CAAP).
The other utilities or services referred in the measure include heat, light and power, water supply and storage, telecommunications, and transport necessary or incidental to the accomplishment of the objectives the BEZA Act; as well as fix just, reasonable and competitive rates, fares, charges and prices.
Yap also proposed in his bill that “the private investors in the Bohol Ecozone shall be given priority in the awarding of contracts, franchises, licenses, or permits for the establishment, operation and maintenance of utilities, services and infrastructure in the Bohol Ecozone”.
BEZA is also mandated to “protect, preserve, maintain and develop the virgin forests, beaches, coral and coral reefs, and maintain ecological balance within the Bohol Ecozone.
It is also expected to create, operate or contract to operate such coordinate with LGUs and exercise general supervision over the development plans, activities and operations of the Bohol Ecozone.
Yap also made it clear that “except as provided in the measure”, that the LGUs comprising the Bohol Ecozone shall retain their basic autonomy and identity.
As to its relationship with the Regional Development Council RDC, BEZA shall determine the development goals for the Bohol Ecozone within the framework of national development plans, policies and goals and the administrator shall, upon approval by the Board, submit the Bohol Ecozone plans, programs and projects to the RDC for inclusion and inputs to the overall regional development plan.(PNA)