Aquino ally pitches new ecozone in his province
An Aquino ally is proposing the the establishment of a special economic zone (Ecozone) in his province, the fifth tax haven to be proposed this year alone.
Orinetal Mindoro Rep. Reynaldo V. Umali said filed House Bill 5345 to establish a Special Economic Zone and Free Port in the Municipality of Mansalay in Oriental Mindoro.
“Oriental Mindoro is not only an agricultural haven but an emerging choice area for investors. Dubbed as the ‘Gateway to the South,’ goods and people pass through from the Visayas and Mindanao thru the province,” Umali pointed out.
Other pending applicationsfor ecozones in Congress were filed by Ilocos Norte Rep. Imelda Marcos, Ilocos Sur Rep. Ronald Singson, Palawan Rep. Frederick Abueg, and Bohol Rep. Arthur Yap for their respective provinces.
These politikos were obviously inspired by the creation of virtual fiefdoms of Senator Juan Ponce Enrile (Cagayan Freeport) and former Senator Edgardo Angara (Aurora Pacific Economic Zone).
As of 2013, there were operating agro-industrial zones, 197 information technology parks, 66 manufacturing zones, 18 tourism economic zones, and two medical tourism zones.
Umali claimed his province was gifted with diverse natural resources, progressive infrastructures in transportation, power and an abundant supply of highly technical and skilled manpower resource.
Dubbed “Oriental Mindoro Special Economic Zone Act of 2015”, Umali proposed that the ecozone would provide tax and duty-free exemptions to locators as well as non-tax benefits like grant of permanent residence status to investors. The ecozone will be managed by the Oriental Mindoro Special Economic Zone Authority (Omseza).
Omseza will have an authorized capital stock of P20 billion of which the government would pour in the initial P300 million capital.