Camarines Sur Rep. Luis Raymund Villafuerte pushed for the enactment of a measure that will create the Camarines Sur Free Trade Zone that aims to spur economic growth in the region.
At the same time, Villafuerte welcomed the government’s move to ease the five-year moratorium on the creation of new special economic zones (SEZs).
Villafuerte, author of House Bill 3681 which seeks the creation of the CamSur economic zone, the bill once enacted will also help President Ferdinand Marcos Jr. to meet his goal of creating an environment that is much more conducive to generating investments and creating quality jobs.
“For the economy to grow a lot faster, the NEDA (National Economic and Development Authority) believes there will have to be more jobs and investments generated outside Metro Manila,” said Villafuerte, former governor and incumbent representative of Camarines Sur.
“And I believe one sure way to create abundant jobs and investment opportunities outside the national capital that would turbocharge regional growth is to put up more SEZs in the regions that would become magnets for local and foreign direct investments,” he added.
Villafuerte in a statement noted that the domestic economy is seen to grow by about six percent this year, which is at the lower end of the already downgraded government target of six percent to seven percent.
He stressed establishing an SEZ in CamSur will generate more livelihood and investment opportunities beyond major urban centers like Metro Manila, Cebu, and Davao. “This proposed investment hub would not only boost the region’s growth and development, but would also encourage Bicolanos to stay put in their respective home-provinces instead of flocking to Metro Manila—thereby helping the national government attain its twin goals of decongesting the NCR (National Capital Region) and stimulating growth in the countryside,” he said.
HB 3681 or the proposed CamSur Free Trade Zone establishes an SEZ at the Provincial Capitol Complex in Pili and in Milaor. Aside from Villafuerte, the bill was authored by his fellow CamSur Representatives Miguel Luis Villafuerte and Tsuyoshi Anthony Horibat along with the Bicol Saro party-list group.