SEN. Maria Imelda Josefa “Imee” Marcos voiced alarm that the transfer of President Ferdinand “Bongbong” Marcos Jr. to veto the invoice that seeks to create the Bulacan Metropolis financial zone (ecozone) might drive away overseas buyers.

She said that overseas buyers Could have second ideas about coming to the Philippines.

The senator, in a textual content material message on Sunday, however, said the President, her youthful brcompletely different, “has The power to veto any regulation.”

Marcos, as chairman of the Senate Committee on Economic Affairs Inside the 18th Congress, sponsored the passage of House Bill 7575 or the proposed Bulacan Airport Metropolis Particular Economic Zone and Freeport Act.

The measure goals to create Bulacan Metropolis Airport as a special financial and freeport zone.

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“Trabaho lang, walang privatean at walang kapatiran (Nothing private. I am simply doing my job),” she said in a textual content material message.

She Recognized that since 2016, former Finance secretary Carlos Dominguez Third hadvert prohibited the creation of ecozones as a Outcome of It is going to Finish in “foregone revenues” Inside The Sort of taxes.

“Sayang (It is a pity),” she said, advertding that the proposed special ecozone might have currentd jobs in Bulacan, Pampanga, Tarlac, Nueva Ecija and close by provinces.

She raised The want for the Senate and The chief department To Search out out if the Marcos advertministration will proceed the ban on the creation Of latest ecozones.

Sen. Emmanuel Joel Villanueva, who hails from Bulacan, said he respects the President’s choice “to veto this invoice Because it’s his prerogative.”

“As A exact-blooded Bulakenyo, We uncover this choice unfortunate, Since the proposal hSince the potential to create A lot of jobs for Filipinos,” the senator said in A press launch.

“We absolutely supported the passage of the Bulacan freeport invoice as it goals To current jobs and livelihoods for our kababayans (fellowmen), As properly as to develop the nation’s financial system with investments and infrastructure,” he said.

Villanueva said he appears aheadvert to working with The mannequin new advertministration and pushing for proposed legislations and insurance covperiodge policies in concord with the priorities of The chief department, particularly When it Includes job period for all Filipinos.

“We’ll careabsolutely research on refiling this invoice and even think about completely different potential proposals Similar to strengthening the PEZA (Philippine Economic Zone Authority) Law,” he advertded.