By Marlon Gianan Balmadrid
A bill filed by Second District Cong. Erico Aristotle Aumentado which pushes for the establishment of a special economic zone in the province of Bohol was approved by the House of Representatives during its plenary session on Sept. 27, 2021.
House Bill No. 10244 is entitled “An Act Establishing the Special Economic Zone in the Municipalities of Ubay, Buenavista, Talibon, and Getafe, Province of Bohol, Creating for the Purpose the Northern Bohol Special Economic Zone Authority, and Appropriating Funds Therefor” was initially filed and authored by Aumentado as House Bill No. 5538.
Upon further deliberation and consolidation, it is now House Bill No. 10244 that was approved and transmitted to the Senate on Sept. 28, 2021.
In his explanatory note, the principal author of the bill cited the plethora of opportunities in the fields of tourism, business and other trade investments that the towns of Ubay, Talibon, Buenavista and Getafe located in the Second District of Bohol, can offer to local and foreign investors and its residents.
He added that the measure seeks to develop the said municipalities into a decentralized, self-reliant, and self-sustaining agro-industrial, commercial, financial, investment and tourist center by attracting legitimate and productive local and foreign investors.
He further noted that the establishment of the ecozone can generate multiplier industries to augment local government revenues, create employment opportunities for the local residents and its neighboring municipalities and city.
The Boholano solon, now on his third and final term as 2nd District representative, was elated upon learning that his bill was approved and is now in the Senate awaiting further deliberation.
He also expressed gratitude for his colleagues in the House of Representatives who supported the measure, along with the Committee on Economic Affairs, Trade and Industry, Appropriations and Ways and Means, which recommended the approval of the bill via Committee Report No. 1232 dated Sept. 10, 2021 which was submitted to the Office of House Speaker Lord Allen Velasco.
With the future establishment of the Northern Bohol Ecozone, Aumentado said that the vision for Ubay, Talibon, Buenavista and Getafe to become a more progressive agro-industrial, tourist haven and globally competitive local government units will be realized.
He also stressed the positive impact the ecozone can generate on the inclusive socio-economic growth in the whole province of Bohol.
He is hoping that the proposed measure will generate the same support and get the nod from his counterparts in the Senate so that it can move another step closer into realization.