The Philippine Economic Zone Authority offered its full support to the efforts of the Bacolod Sangguniang Panlungsod to make Bacolod a more profitable site for investments by converting the existing Bacolod Airport into a special economic zone.

A copy of the SP resolution requesting for the conversion of the area occupied by the existing Bacolod Airport into a special economic zone once the new airport in Silay City starts its operation has been furnished the President.

In her letter to the SP dated June 12, PEZA director general Lilia De Lima, said they are happy to know of the plans and wish to offer their full support to the SP in its efforts to make Bacolod a more profitable site for investments.

However, she said the establishment of an economic zone requires the issuance by the Office of the President of a Presidential Proclamation, which authorizes PEZA to exercise administrative supervision over the area, as well as, grant incentives to export-producers and other enterprises that will locate inside the economic zone.

De Lima said the issuance of a Presidential Proclamation is made upon the recommendation of PEZA to the Office of the President following PEZA Board approval of the proponent's application and compliance of some important documentary requirements. She also furnished the SP members a list of requirements to guide them in preparing their application.*CGS

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