The House of Representatives approved on third and final reading House Bill No. 5440, that seeks to establish the Bacolod Economic Zone Authority.
Bacolod Rep. Greg Gasataya, author of the bill, announced on his Facebook today, Oct. 17, that the establishment of special economic zones and a governing body would generate employment for Bacolodnons.
“This will allow our skilled workers to no longer seek employment in other urbanized cities in the country. Local and foreign investors may also invest in industries in our city, such as manufacturing, which in turn, would entail more competitive wage rates,” Gasataya added.
He said he filed the bill in 2019, after he noted that the economic zones in Clark, Pampanga and Cavite have shown promise in local economic, social, and cultural growths.
“Through this bill, we will be able to further propel growth for Bacolod,” he added. — NND
