Senator Grace Poe braces that the development of the P735-billion New Manila International Airport (NMIA) will be expedited with the passage into law of Republic Act 11999 or the Bulacan Special Economic Freeport Act (Bulacan Ecozone).
Poe, principal sponsor of the law in the Senate, said the new airport, to be built by a domestic private investor, will unlock potential for jobs, businesses, better travel experience, and regional economic growth.
She noted that the ecozone will be the 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 the quintessential airport that the country badly needs.
Known as the Bulacan International Airport, it will be built in the municipality of Bulacan in the province of Bulacan and is targeted to start operation in 2027.
The 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 effectiveness of the law.
Under the law, the body will have an authorized capital stock of P2 billion, the majority shares of which shall be subscribed to and paid for by the national and the local governments.
As the 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,” she said.
