THE House of Representatives has approved on third and final reading a proposed law seeking to establish a special economic zone and freeport in Ilocos Norte.
House Bill 9095 or the “Ilocos Norte Special Economic Zone and Freeport Act” was principally authored by Ilocos Norte Rep. Imelda Marcos.
Marcos’ co-authors were Reps. Milagros Aquino-Magsaysay, Carlos Roman Uybarreta, Gwen Garcia, Ferjenel Biron, Rolando Andaya Jr., and Estrelita Suansing.
HB 9085 seeks to encourage, promote, induce, and accelerate sound and balanced industrial, economic, and social development in the province.
It also aims to provide jobs, especially in the rural areas, increase productivity and individual family income, and attract legitimate and productive foreign investments.
The bill seeks to establish the Ilocos Norte Special Economic Zone and Freeport or the Ilocos Norte Ecozone.
The Ilocos Norte Ecozone shall cover particular areas located in the city of Laoag and the municipalities of Paoay and Currimao.
The specific metes and bounds shall be more particularly defined in a presidential proclamation to be issued for this purpose, provided that the lands embraced shall be public lands and contiguous to one another.
The Ilocos Norte Special Economic Zone and Freeport Authority (INSEZA) shall be established as a corporate body to manage and operate the Ilocos Norte Ecozone.