Question & AnswerQ&A (DSWD ADMINISTRATIVE ORDER NO. 02, S. 2006)
The creation and designation of BGC Corporate Center 2 as a Special Economic Zone is based on Republic Act No. 7916, known as the "Special Economic Zone Act of 1995," as amended by Republic Act No. 8748.
The President of the Republic of the Philippines has the authority to create and designate a Special Economic Zone, as exercised by President Rodrigo Roa Duterte in this case, pursuant to RA No. 7916 and its amendments.
The Philippine Economic Zone Authority (PEZA) Board of Directors recommended the creation of the Special Economic Zone.
The Special Economic Zone is designated as BGC Corporate Center 2, an Information Technology Center.
The building has a gross floor area of 35,439.29 square meters, and the parcel of land on which it stands has an area of 2,149 square meters.
It is located at Block 1, 30th Street corner 5th Avenue, Bonifacio Global City, Taguig City, Metro Manila, Island of Luzon.
The land parcel is described using Lot 8, Block 1 of PCS-00-011796, covered by TCT No. 1236-P, and its boundaries and points are specifically described by bearings and markers as per surveys conducted.
The operation is subject to the provisions of RA No. 7916 as amended by RA No. 8748, its Implementing Rules and Regulations, and various PEZA Board of Directors Resolutions.
Classifying an area as a Special Economic Zone allows it to enjoy certain fiscal and non-fiscal incentives to promote economic activities such as information technology, manufacturing, and export, under the framework of RA No. 7916.
BGC Corporate Center 2 is designated as an Information Technology Center Special Economic Zone.