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Hermosa, Bataan: Part of SBMA Free Port Zone
Written by Cherry   
Saturday, 22 January 2011

Subic Bay Metropolitan Authority (SBMA) is now in the process of project expansion. This activity will hold additional investments in industrial parks and other projects which include the town of Hermosa in Bataan.

According to SBMA Administrator Armand Arreza, the Executive Order No. 675 provides the expansion of additional secured areas that may be operated as special economic zones under the SBMA.

This entitles the town of Hermosa to all tax, fiscal and other investment incentives, except real-estate tax for private property under Subic's free-port system. In November 2007, Executive Order No. 675 was issued to allow the extension of the secured area of the Subic Bay Special Economic and Freeport Zone (SSEFPZ) to those within the SSEFPZ but outside the fenced-in former American naval base. Olongapo City, does not have enough flat land and open space for industrial use while the road going to Subic, Zambales, is narrow and not suitable for trucks and trailers. And Hermosa has more than 400 hectares of available open space which is an ideal expansion site for the free port. The power of EO 675 covers those establishments in secured areas that can avail of duty-free privileges in the free port. The declaration of an additional secured area will only take effect after a consensus by a resolution of the host town council.

According to Hermosa Mayor Danilo Malana, community leaders in his town were “willing to the implementation of EO 675, as they believe this will help realize their vision as an industrialized location. [via business.inquirer.net]

 
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