There are several measures filed in Congress seeking the creation of economic zones in Bataan, Ilocos Sur, Cebu, Davao Oriental, Davao del Norte and Samal Island.

DOF said the creation of separate authorities to manage the proposed economic zones would be a duplication of the Philippine Economic Zone Authority (PEZA), an investment promotion agency under the Department of Trade and Industry.

It said that PEZA is already vested with powers to set the general policies on economic zones and to supervise and coordinate the establishment of all ecozones in the country.

DOF added that the tax incentives given to them were too generous that granting such incentive would only diminish government revenues and would run counter with ensuring long-term fiscal sustainability. It also deviates from the intent of rationalizing and harmonizing the grant of fiscal incentives. [via PhilStar]