By Emme Rose Santiagudo
The proposed Metro Iloilo Special Economic Zone and Freeport Authority is seen to attract investments to both the city and province of Iloilo and the rest of the region.
House Bill 5794 or the proposed Act Creating the Metro Iloilo Special Economic Zone (MILOECOZONE) and Freeport Authority hurdled the committee level of the House of Representatives on Tuesday.
According to its proponent Iloilo City lone district Rep. Julienne “Jam-Jam” Baronda, the MILOECOZONE is poised to bring in more investments for the city and province of Iloilo.
“By giving the Ilonggos your respective seals of approval, you are letting us get closer to our dream of bringing the economy of Western Visayas to greater heights that will result to more job opportunities for the people of Iloilo City and the entire Western Visayas,” Baronda said as she expressed her gratitude to Rep. Sharon Garin and Rep. Weslie Gatchalian who chairs the Committee on Economic Affairs and the Committee on Trade and Industry of the House.
Once realized, the MILOECOZONE will be the first economic zone and free-port in Western Visayas and the second in the Visayas and Mindanao after the Zamboanga Free Port Authority or ZAMBOECOZONE.
The proposal also received support from the National Economic and Development Authority (NEDA) 6 Regional Director Ro-ann Bacal.
“Ecozone is very much welcome in Western Visayas. We are hoping that the private sector will come in and invest. It is expected to make the economy strong and robust,” she said in a statement.
Bacal added that the region is now in the best position to cater to the possible investors with stable supplies of power and water.
“The region is now in the best position to attract investors since the supply of power is now stable, and soon, water will not be a problem with the Jalaur River Multipurpose Project, Phase II,” she said.
The proposed 50-hectare MILOECOZONE will be located at Brgy. Loboc, La Paz, Iloilo City where the Iloilo International Port also operates, including the nearby barangays of La Paz.
It is expected to lessen the cost of transport and export of products going to and from local or international markets.
