Press Release
March 21, 2007


Senator Richard J. Gordon joins the investors, workers and the people of Central Luzon in celebrating the ceremonial signing of the twin measures amending the BCDA Law and extending a one-time amnesty for business enterprises in the special economic zones of Clark , Poro Point and John Hay.

A visionary for the development of Central Luzon, Senator Gordon said that the amendments to the BCDA Law seeks to remedy the adverse effects of Supreme Court decisions nullifying the grant of the BCDA of incentives to investors. Revoking the fiscal incentives already enjoyed by the existing locators in these affected ecozones would deal a significant blow to the governments continuous efforts at enticing foreign investors to do business in the Philippines as this would be deemed, in effect, changing rules in the middle of the game, explained Senator Gordon, author of the bills.

Senator Gordon, a relentless advocate and supporter of the bills in the senate, believes that it is a step towards the realization of his vision of maximizing and further developing the synergy of the infrastructure in Subic , Clark and Manila (3 airports in Manila , Subic and Clark ; 2 seaports in Manila and Subic ; and 1 interconnecting superhighway). This is the lightning rod needed to spur development across Central Luzon and establish the area as a regional industrial hub. This means livelihood opportunities for our people, Senator Gordon said.

Senator Gordon filed SBN 2098 which: (1) sought to ensure that no back taxes and penalties for non-payment of taxes would be imposed upon the existing investors and locators in the affected zones, and (2) expressly provided for the fiscal incentive regimes that would govern within these affected ecozones. The effects of the bills will be far-reaching. It will be felt by the investors and workers in the Clark ecozone where aggregate investments in the amount of P19B had already been made by around 350 investors/locators that, in turn, had created 35,000 jobs, he said.

Senator Gordon stresses that what remains essential is the need to not lose track of the over-all vision set out for Central Luzon and the political will to make things work: This law will catapult our vision into reality. It will fast-track the development of Central Luzon and create opportunities for our people. This translates into a better quality of living for ourselves and, most especially, our children. Perhaps, Filipinos can soon find their future in their native Pilipinas and not on foreign shores.

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