Photo Release

Hearing on creation of ecozones, freeports: Sen. Imee Marcos presides over the virtual hearing of the Committee on Economic Affairs on various bills establishing economic zones and freeports in Ilocos Norte, Sarangani, and Surigao del Sur as well as the conversion of Sangley Point in Cavite City into an international logistics hub Wednesday, March 3, 2021. Marcos said she is “utterly and completely perplexed” by the position of the Department of Finance who consistently oppose proposals to open economic zones in light of the passage of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) bill and the rationalization of incentives. “Your source of collection is shrinking but you don’t want to expand... If you refuse to open new economic zones, how do you think we can grow our export potential?” Marcos said. (Screen grab/ Senate PRIB)