QuestionsQuestions (PROCLAMATION NO. 802)
The main purpose of Proclamation No. 1420 is to create and designate certain parcels of land in Barangay Bugo, Cagayan de Oro City, Misamis Oriental, as a Special Economic Zone pursuant to Republic Act No. 7916, as amended by Republic Act No. 8748.
The Special Economic Zone is created and designated under Republic Act No. 7916, the Special Economic Zone Act of 1995, as amended by Republic Act No. 8748.
The President of the Philippines has the authority to create and designate Special Economic Zones pursuant to the powers vested under Republic Act No. 7916 and its amendments.
The total area designated as a Special Economic Zone in Barangay Bugo is 272,558 square meters, more or less.
The creation of the Special Economic Zone was recommended by the Board of Directors of the Philippine Economic Zone Authority (PEZA).
The proclamation provides a detailed technical description with the boundaries, lot numbers, consolidation subdivision plans, bearings, and distances marking the perimeter of the area, including references to surveys conducted in 1827 and 1977.
The designation of the Special Economic Zone is subject to compliance with the provisions of Republic Act No. 7916, its Implementing Rules and Regulations, and PEZA Resolution No. 07-238, ensuring proper governance, administration, and adherence to regulatory standards of the zone.
The Special Economic Zone is located on the Island of Mindanao, in the Province of Misamis Oriental.
The proclamation is signed by then-President Gloria M. Arroyo and sealed by the Republic of the Philippines, with the Executive Secretary Eduardo R. Ermita attesting to the document.
The proclamation itself does not specify penalties or sanctions but subjects the designated area to the provisions of Republic Act No. 7916, as amended, which contains relevant penalties and sanctions for violations within Special Economic Zones.