IGaCoS Special Economic Zone and Free Port

A month ago (June 6, 2008) a public hearing was held in Samal for the purpose of presenting House Bill 1846, which would establish a Special Economic Zone and Free Port in the Island Garden City of Samal. The meeting was well attended, and the response, according to this article in the Sun Star, was almost wholly positive.

“The establishment of an economic zone in the Island Garden City of Samal is proffered as vehicle that would contribute to the urgent national effort of curbing poverty. As proposed, the zone will be a self-sustaining industrial, commercial, tourist/recreational, banking, investment and financial center introducing attractive features of free port commerce similar to Hong Kong, Singapore, and Labuan, Malaysia. Customs duty and tariff-free trade of important goods, preferential tax treatment of operators, lenient immigration laws and other forms of incentives characterize the business climate within the economic zone to encourage foreign investors.”

The Special Economic Zone and Free Port seems to be closely linked to the Samal-Davao bridge. Depending upon which article you read, the bridge should come first, or the other way around. It seems pretty obvious that they would enhance each other, for the purpose of investment and growth of business in the island.

This appears to be at least the second time (see previous) this has been proposed, so I’m unclear on how realistic or imminent this might be. One thing is for sure, the current mayor, Hon. Aniano P. Antalan, is on a mission of growth for this (once) sleepy island.