Question & AnswerQ&A (PROCLAMATION NO. 1245)
Proclamation No. 1245 exercises the authority vested under Republic Act No. 7916, also known as the "Special Economic Zone Act of 1995," as amended.
The primary purpose is to create and designate parcels of land in Barangay Kasambagan, Cebu City as an Information Technology Park called Bonifacio Business Park.
The Proclamation was signed by the President of the Philippines, Rodrigo Roa Duterte.
Two parcels of land: Lot 1 Pcn-07-000335 with an area of approximately 5,820 square meters, and Lot 817-B Psd-07-042857 with an area of approximately 5,803 square meters, both located in Barangay Kasambagan, Cebu City.
The park is subject to the provisions of RA No. 7916 as amended, its Implementing Rules and Regulations, and relevant resolutions of the PEZA Board of Directors, including Resolution No. 00-411 (s. 2000), Resolution No. 04-295 (s. 2004), and Resolution No. 18-607 (s. 2018).
The total aggregate area designated is Eleven Thousand Six Hundred Twenty-Three square meters (11,623 m2), more or less.
The creation was recommended by the Board of Directors of the Philippine Economic Zone Authority (PEZA).
The proclamation describes the boundaries, coordinates, points of reference, and survey approval dates in detail for each parcel of land as defined by official land consolidation and subdivision plans.
Designation as an Information Technology Park under RA No. 7916 generally entitles the area to special economic zone incentives such as tax holidays, simplified import and export procedures, and regulatory benefits to promote IT and related investments.
The President of the Philippines has the authority to amend or revoke the Proclamation, usually upon recommendations from PEZA or other relevant bodies.