MANILA - Philippine Economic Zone Authority (PEZA) Director General Charito Plaza has offered another way for the Bulacan Airport City project to be declared as special economic zone after President Ferdinand "Bongbong" Marcos Jr. vetoed House Bill 7575 creating the Bulacan Airport City Special Economic and Freeport Zone Authority (BACSEFZA).

In a statement Monday, Plaza said instead of creating another investment promotion agency (IPA) through the proposed BACSEFZA, the airport project in Bulacan could be registered with PEZA as a new special economic zone.

"To think that the BACSEFZA is a private-led development of (a) new ecozone, it is but appropriate to register it with PEZA instead of having it legislated to be a new investment promotion agency. Through this, (the) government is spared of responsibility to provide (an) annual budget to legislated independent economic zones and to create multiple IPAs with overlapping goals and mandates," she said.

Plaza said if the Bulacan Airport City project will register PEZA, this project should meet the criteria of the Strategic Investments Priorities Plan (SIPP), the government's blueprint in providing tax perks.

"Ecozone developers or landowners can register (with) PEZA and develop or create different types of economic zones where different enterprises can locate different types of industries. Through this, lands are utilized responsibly depending on the land and natural resources on it," the PEZA chief added.

Special Economic Zones (SEZ) still need a declaration from the Chief Executive.

Earlier, Press Secretary Trixie Cruz-Angeles said the construction of the Bulacan International Airport led by San Miguel Corp. will push through despite Marcos vetoing HB 7575. (PNA)