P90-M world-class eco-zone soon to rise in Sagay

Tuesday, August 09, 2005
P90-M world-class eco-zone soon to rise in Sagay
By Erwin Ambo S. Delilan

A MODERN and world-class economic and industrial zone will soon rise at Barangay Paraiso, Sagay City in northern Negros.

Governor Joseph Marañon said Monday that officials of the Land Bank of the Philippines (LBP) have approved the province's proposed loan application through "Bridge Loan."

The governor said the proposed loan, worth P90 million, will be credited to the province but will be turned over immediately to the local government of Sagay City.

The governor said the eco-industrial zone will be established in a 200-hectare property of Gamboa and Piccio families near the Lopez Sugar Central.

To be called Negros Occidental Agro Industrial Export Processing Zone, the project will address the serious economic problem of the province by creating an advantage thru the food production industry.

The program also includes aqua culture, fishing and sugar related food products where Negros Occidental has proved a distinct advantage.

Production site for organic muscovado sugar is also being mulled in the proposed eco-industrial zone.

Livestock and marine production program are also being mulled.

The finished food products will then be exported to the United States, Japan, Europe and other countries.

Other accessories being contemplated to be established within the eco-industrial zone also include an isolated policed area adjacent to a port of entry like sea port or airport and where imported goods may be unloaded for immediate trans-shipment or stored, repacked, sorted, mixed or otherwise manufactured or manipulated or assembled and then re-exported.

With these, proposed incentives have already been drawn out that include income tax holiday for five years, option to pay five percent tax on gross income, exemption from duties and taxes on imported capital equipment, spare parts, supplies and raw materials, equivalent tax credit on these items if purchased locally, exemption from wharfage dues and export taxes, imports and fees, permanent resident status for investor and his family, employment of foreign nationals and simplified import and export procedures.

To be administered, regulated and supervised by the Philippine Economic Zone Authority (Peza), this eco-industrial zone will become a quasi government corporate body attached to the Department of Trade and Industry; governed by a board; headed by an administrator who is usually vice chairman of the board; responsible for formulation and implementation of policies, plans and programs; establishment and enforcement of. Rules and regulations and standards in the free trade zone and govern establishment and operations of all free trade zones.

The project will also be the construction of a state-of-the-art world-class industrial estate that will be phased in an approximate 10 phases of 10 to 20 hectares each in order to match the rate of new enterprises locating in the development.

It will also be equipped of full class A engineering, properly graded site, road network and street lighting, drainage system, sewer system, power supply distribution system, telecommunication, water supply and distribution system, waste management and security and administrative facilities.


(August 9, 2005 the Sun.Star message board)
(http://www.sunstar.com.ph/static/bac/2005/08/09/news/p90.m.world.class.eco.zone.soon.to.rise.in.sagay.html)