BAGUIO Representative Mark Go filed House Bill 5017, which seeks for the creation of the Baguio City, La Trinidad, Itogon, Sablan, Tuba and Tublay Special Economic Zone or the BLISTT Ecozone.
In the said measure, the establishment of BLISTT Economic Zone in Benguet will transform the area into an emerging investment hub in the province, an additional ecozone to the existing Baguio City Economic Zone, to cater the rising demand for an area suitable for economic development.
According to Go, this proposed measure will channel the development not only on the part of the BLISTT area but also to its neighboring provinces.
u201cThe establishment of BLISTT Ecozone is significant because this will provide employment as well as attract both local and foreign investors in the province,” he said. “The proposed BLISTT Ecozone bill will comprise a contiguous and compact territory aptly for agro-industrial, industrial, manufacturing, agricultural, commercial and financial development having a decentralized, self-reliant and self-sustaining investment center with least government involvement.”
The BLISTT Ecozone will be under the direct control and supervision of the Philippine Economic Authority (PEZA) similar to the Baguio City Economic Zone, Cavite Economic Zone, Mactan Economic Zone and Private Economic Zones.
An Administrator appointed by the Director General of PEZA shall govern the said ecozone.
u201cThe approval of this bill will surely open the gateway to economic advantage in the BLISTT area which enables consumers to enjoy more goods and services and enjoy better standards of living,” he ended. (PR)