Question & AnswerQ&A (EXECUTIVE ORDER NO. 27)
The main policy is to encourage private sector initiative and active participation in realizing national and regional growth and development.
The Masinloc (Zambales Industrial Complex) Project is granted flagship status under this Executive Order.
A consortium of private investors led by Smith Group Gexis, Inc. conceptualized and proposes to implement the Masinloc Project.
At least a US$2 billion investment is required for the Masinloc Project.
The project aims to develop the Municipality of Masinloc into an international transshipment port and a major industrial-commercial center, vital for the economic development of Central Luzon.
Key agencies include the Department of Public Works and Highways, National Economic and Development Authority, Department of Transportation and Communications, and Department of Trade and Industry.
The eight major components include the Masinloc Economic Industrial Park, Masinloc International Transshipment Port, Iba-Tarlac Tollway (and related road and rail infrastructure), Central Luzon Food Terminal Complex with international fishing port, Ship Building Complex, Resort Development, Telecommunication Tower, and a 100 MW Power Plant.
The PCFPP is ordered to ensure the efficient and timely implementation of the Masinloc Project as an unsolicited proposal and to coordinate the participation and cooperation of relevant government agencies.
The project will be implemented under Republic Act No. 6957, as amended by Republic Act No. 7718, which govern unsolicited proposals and public-private partnerships.
The order took effect immediately upon signing on September 28, 1998.