The House of Representatives has approved on second reading a bill that could bolster the country’s bid to be globally competitive in the arms industry.
Congressmen are expected to pass the measure as soon as session resumes this month.
Approved on second reading was House Bill 6525 which provides for the establishment of Special Defense Economic Zone (SpeDEZ) inside the government arsenal industrial estate in Camp General Antonio Luna in Limay, Bataan.
Bataan Rep. Jose Enrique Garcia III, principal author of the bill, said the measure proposes to enhance investment opportunities inside the economic zone, while strengthening the country’s defense capabilities.
Garcia said he envisions for the Philippines a globally competitive, centralized government-sanctioned arms industry.
The administration lawmaker said the local arms industry must be able to produce conventional weapons and equipment for domestic use, as well as for export, with emphasis on arms research and development.
“This will lay credence and support for Tiwala sa Gawang Pilipino,” said Garcia, adding he wants the country to become “a diverse and multi-investment hub.”
The SpeDEZ shall cover the 370 hectares of government arsenal industrial estate inside Camp General Antonio Luna in Limay, Bataan and all other areas which may be declared as part of SpeDEZ in compliance with the Act, including the Government Arsenal (GA) as created by Republic Act No. 1884.
The SpeDEZ shall be accessible for inclusive business prospects and progress in firearm module and technical competency of the government arsenal that are vital to support the objectives of the Armed Forces of the Philippines (AFP), Philippine National Police (PNP) and other law-enforcement agencies.
Approved on second reading was House Bill 6525 which provides for the establishment of Special Defense Economic Zone (SpeDEZ) inside the government arsenal industrial estate in Camp General Antonio Luna in Limay, Bataan.
Bataan Rep. Jose Enrique Garcia III, principal author of the bill, said the measure proposes to enhance investment opportunities inside the economic zone, while strengthening the country’s defense capabilities.
Garcia said he envisions for the Philippines a globally competitive, centralized government-sanctioned arms industry.
The administration lawmaker said the local arms industry must be able to produce conventional weapons and equipment for domestic use, as well as for export, with emphasis on arms research and development.
“This will lay credence and support for Tiwala sa Gawang Pilipino,” said Garcia, adding he wants the country to become “a diverse and multi-investment hub.”
The SpeDEZ shall cover the 370 hectares of government arsenal industrial estate inside Camp General Antonio Luna in Limay, Bataan and all other areas which may be declared as part of SpeDEZ in compliance with the Act, including the Government Arsenal (GA) as created by Republic Act No. 1884.
The SpeDEZ shall be accessible for inclusive business prospects and progress in firearm module and technical competency of the government arsenal that are vital to support the objectives of the Armed Forces of the Philippines (AFP), Philippine National Police (PNP) and other law-enforcement agencies.
If passed into law, the measure would grant fiscal incentives, including the grant of an investor’s visa to any foreigner who invests US$200,000 either in cash and/or equipment in a registered enterprise.
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