Solon wants special economic zone in Surigao Sur, eyes Chinese investors

A lawmaker from Surigao del Sur is pushing for the establishment of a special economic zone in the province to create new jobs and attract potential foreign investors, including those from China.

In House Bill 5345, Rep. Johnny Pimentel sought the creation of the Bislig City Special Economic Zone "to drive employment and consumption growth and overall economic expansion" in the Caraga region as well as in the entire Mindanao.

Caraga is composed of the provinces of Surigao del Sur, Surigao del Norte, Agusan del Sur, Agusan del Norte, and Dinagat.

"We need new investors, especially in highly labor-intensive industries, to provide thousands of good-paying jobs and raise the living standards of a greater number of families in Mindanao," Pimentel said in a statement on Saturday.

"We are hoping to attract Chinese investors to build factories in the economic zone, considering our government-to-government as well as people-to-people relations with China have warmed up owing to President [Rodrigo] Duterte's independent foreign policy track," the lawmaker added.

Located some 208 kilometers northeast of Davao City, Bislig is one of the two component cities of Surigao del Sur — the other being the provincial capital Tandag.

In pushing for the swift passage of his bill, Pimentel invoked the mandates of the 1987 Constitution for the state "to give all regions of the country optimum opportunity to develop, and to promote comprehensive rural development."

"We have to put up new economic zones, particularly in Mindanao and the Visayas, to assure the more equitable distribution of opportunities, income and wealth through balanced economic growth," he said.

Locators at the economic zone shall enjoy income tax holidays and waiver of taxes and duties on imported capital equipment and machinery, among other financial incentives, according to the lawmaker.

Foreigners who invest at least $150,000 (P7.4 million) in cash or equipment in any enterprise located in the economic zone shall also enjoy visa and residency privileges, along with their immediate family members, he noted. — John Ted Cordero/MDM, GMA News