The House of Representatives has approved on third and final reading House Bill No. 5440 establishing the Bacolod Economic Zone Authority, Bacolod Rep. Greg Gasataya said Monday, October 18.
“The establishment of special economic zones and a governing body would generate employment for our people and allow our skilled workers not to seek employment in other urbanized cities in the country,” he said.
“Investors both foreign and local may also invest in industries in our city such as manufacturing which in turn would entail more competitive wage rates,” he added.
Gasataya said he filed the bill in 2019 as existing economic zones in Clark and Cavite have shown promise in local economic, social, and cultural growth.
“Through this bill, we will be able to further propel growth for Bacolod,” he said.*