In his first full day in office, President Ferdinand Marcos Jr. vetoed the bill creating the Bulacan Airport City Special Economic Zone and Freeport. READ:
MANILA, Philippines – In his first full day in office, President Ferdinand Marcos Jr. vetoed the bill creating the Bulacan Airport City Special Economic Zone and Freeport.
He cited Republic Act No. 11534 or the Corporate Recovery and Tax Incentives for Enterprises Act which already provides tax incentives to eligible businesses outside economic zones. Marcos also said that the Bulacan airport city is near the Clark Special Economic Zone in Pampanga, “which is against the government’s policy on creating special economic zones in strategic locations.”
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