Senator Grace Poe is optimistic that the lapsing of the Bulacan Special Economic Freeport Act (Bulacan EcoZone) into law would put into high gear the development of the New Manila International Airport (NMIA).

"Central to the establishment of the Bulacan EcoZone is the building of the quintessential airport that the country badly needs," Poe said.

"The new airport will unlock potentials for jobs, businesses, better travel experience, and regional economic growth," added Poe, the principal sponsor of the law in the Senate.

Otherwise known as the Bulacan International Airport, it will be built in the municipality of Bulakan in the province of Bulacan. It targets to start operations in 2027.

Republic Act (RA) No.11999 or the Bulacan Special Economic Zone and Freeport Act lapsed into law on June 13. It creates the Bulacan Special Economic Zone and Freeport Authority.

In consultation with the National Economic and Development Authority (NEDA), the BEZA will establish the general framework for land use, planning, and development for the area covered by ecozone.

The BEZA will be organized within 180 days upon the effectivity of the law.

Under the law, the body will have an authorized capital stock of P2 billion, the majority shares of which shall be subscribed to and paid for by the national and local governments.

As the Senate Finance Committee chairperson, Poe vowed that the chamber will exercise its functions to see that government funds for the Bulacan EcoZone will be spent judiciously.

"The private domestic investor will build an airport worth P735 billion. The government should be ready to pitch in as a partner by developing the ecozone," she said.  

Poe said the ecozone would be the perfect venue for an efficient and sustainable integrated airport network.

"We owe it to our people to give them a better airport, it has been long in coming," Poe said.