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NUP bill seeks advanced industries zone in New Clark City
🇵🇭 Philippines · Politics · La Paz, La Paz Department, Bolivia · 14 h ago
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26.10 06:46 UTC
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NUP seeks creation of gov’t agency for New Clark City economic zone
In their proposed bill, NUP sought to maximize commercial interest in the 1,350 hectares land economic zone in New Clark City by requiring a P15 billion minimum investment from every business that would be constructing their establishments in the area.
To ensure compliance with international standards for economic zones, the bill likewise pushed for the creation of the Advanced Industry Development Authority (AIDA) that would maintain the liberal practice of trade between businesses.
Another particular factor that Puno wanted to highlight was the sheer amount of jobs that the area would generate, with their lowest estimates indicating that 150,000 new jobs could be created.
Puno said that the economic zone would function as a “self-contained area,” shielding locals from around the area from fears that their water and electrical resources would be depleted.
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