Senator Grace Poe said development of the P735-billion New Manila International Airport (NMIA) will be expedited with the enactment into law of Republic Act 11999 or the Bulacan Special Economic Freeport Act (Bulacan EcoZone).
According to Poe, principal sponsor of the measure, the new airport to be built by a local private investor “will unlock potentials for jobs, businesses, better travel experience, and regional economic growth.”
The senator noted that the projected Bulacan ecozone would be a 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.
Central to the establishment of the Bulacan EcoZone, Poe said, is the building of a “quintessential airport that the country badly needs.”
To be known as the Bulacan International Airport, the facility would be built in Bulacan, Bulacan, with start of operations expected in 2027.
The proposed law creates the Bulacan Special Economic Zone and Freeport Authority (BEZA) which will manage the ecozone.
In consultation with the National Economic and Development Authority, the BEZA will establish the general framework for land use, planning and development for the area covered by ecozone.
It will be organized within 180 days upon the effectivity of the law.
Under the law, the BEZA will have an authorized capital stock of P2 billion, the majority shares of which shall be subscribed and paid for by the national and the local governments.
As Senate finance committee chairperson, Poe pointed out that the chamber will exercise its functions to see to it that government funds for the Bulacan EcoZone will be spent judiciously.
She said the government should be ready to pitch in as a partner by developing the ecozone.