Senators on Wednesday, January 31 renewed the push for the creation of a special economic zone in the province of Bulacan.

Senate President Juan Miguel “Migz” Zubiri said he believes the creation of the Bualacan Airport City Special Economic Zone and Freeport Authority (BACSEZFA) would entice more foreign investors and complement the soon-to-be-finished aerotropolis outside of Metro Manila.

“It embodies a vision of comprehensive development and inclusive growth in the province of Bulacan and nearby areas,” Zubiri said at the hearing of the Senate Committee on Economic Affairs, on Senate Bill No. 2266.

Zubiri said the measure has already addressed the concerns that the President raised in vetoing the original bill that the 18th Congress had approved in 2022.

“Despite being previously vetoed by President Marcos, it remains a crucial catalyst to bring infrastructure development, attract investments and create jobs in the area,” he said.

The Senate chief also said the BACSEZFA is expected to add US$200-billion in annual Philippine export revenues over the next decade which translates to an increase of around 170 percent of current annual exports.

“This special economic zone is envisioned to attract world-class semiconductor manufacturers, battery power storage system manufacturers, electric vehicle makers and other new and emerging tech industries,” Zubiri said.

Sen. Joseph Victor “JV” Ejercito also said he expects passage of the proposed BACSEZFA to be “exciting and game-changing,” as it would generate an economic boom.

“It will maximize the planned Bulacan International Airport and generate an economic boom,” Ejercito said.

Ejercito said he believes that once the BACSEZFA is in place, it will also help reduce congestion in Metro Manila, create opportunities in rural areas, and stimulate economic development not only in Metro Manila, Cebu, and Davao but also in Central Luzon, Northern Luzon, and other areas.

“Sa halip na po na tayo ay nabibinbin sa problema in a (Instead of being preoccupied with problems like the) divisive activity like Charter change, ito ‘yung mga dapat nating pinagtutuunan ng pansin (this is one of the things we should be focusing on),” he emphasized.

Ejercito also thanked San Miguel Corporation for their contributions to the Philippine government through public-private partnership projects.

“This is the energy of the private sector which we need to engage and not strangle with regulation. Maging San Miguel man, o maliit na negosyo (Whether San Miguel or any other small businesses), let’s roll out the red carpet and slash the red tape.“

Senate Majority Leader Joel Villanueva, who hails from Bulacan, also expressed certainty that the issues raised against the previous version of the BACSEZFA bill has been addressed in the latest version of the measure.

“The measure that we filed, in particular, is a recalibration of the bill filed in the 18th Congress and introduces new provisions and safeguards to ensure that the creation and operation of the proposed Bulacan Ecozone is within the framework of national development plans, policies, and goals and subject to existing laws, rules, and regulations,” Villanueva said.

“We hope that with the eventual passage of this measure, this vision will soon become a reality,” he stressed.