Senate committee holds hearing for proposed RIIC

CLARK FREEPORT – The Senate Committee on Government Corporations and Public Enterprises conducted over the weekend a consultative hearing here for a bill seeking to create the Regional Investment and Infrastructure Corporation (RIIC) of Central Luzon.

“Senate Bill No.1325 aims to create opportunities and choices for Filipinos to give them quality life by consolidating the infrastructures, natural and human resources to enable to region to have the economic activity that other countries benefit from,” Committee chair and bill author Richard Gordon sai d.

Attendees included local officials, business groups and other stakeholders from the provinces of Aurora, Bataan, Bulacan, Nueva Ecija, Pampanga, Tarlac and Zam bal es.

Gordon explained that maximizing the use of available infrastructures and resources to create an investment and commercial hub in their provinces would trigger the region’s economic development.

He added it could become the template that could be replicated in other regions of the country.

“This will disperse industries; create jobs, investments and tourism opportunities. Tourism zones, agricultural or industrial zones could be opened up, thus giving investors choice. The vision is to have investors opening up businesses on the idle lands along the highways. They will have incentives for providing houses for their workers at the back of the factories. Schools can be built there. Lesser transportation expenses, lesser travel time, lesser stress and the workers will have more time with their families. Hospitals, churches, markets and banks could also be built. Then the community could later on become a financial center,” he furthered.

Under the bill, the RIIC is mandated to encourage all cities and municipalities within Central Luzon to each prepare, adopt, and implement a comprehensive and detailed master plan, which includes zoning and urban planning, in consultation and coordination with the appropriate national agencies and the local government units, for the sound and balanced development of the zones, to promote the economic and social development of the local communities in particular and the country in general.

It will also initiate and coordinate all development and infrastructure projects linking the seaports and airports to the Special Economic Zones and Tourism Enterprise Zones within the area provided that when necessary, the RIIC shall likewise handle the bidding of the projects under the unsolicited build-operate-transfer or build-operate-own schemes, or through solicited bids under applicable government procurement laws and/ or the rules promulgated by the National Economic and Development Authority.

RIIC can grant and administer all fiscal and nonfiscal incentives available under the Foreign Investments Law, the Omnibus Investments Code, the Philippine Economic Zone Act of 1995, and the Bases Conversion and Development Act of 1992 as well as accept any local or foreign investment, business or enterprise provided it does not infringe the provisions of the Constitution.

It shall be composed of 19 members namely the Chairpersons of Bases Conversion and Development Authority, Subic Bay Metropolitan Authority, Clark Development Corporation, Aurora Pacific Economic Zone and Freeport Authority, and Authority of the Freeport Area of Bataan, plus the governors of the seven provinces of Central Luzon, chairperson of the Metro Manila Development Authority, director-general of the Philippine Economic Zone Authority, chief operating officer of the Tourism Infrastructure and Enterprise Zone Authority, and four members from the private sector appointed by the President of the Philippines. The Chairperson of the RIIC would come from its members.

— Carlo Lorenzo J. Datu/PIA-3