Law Summary

Legal Basis

• Explanation: This proclamation is issued pursuant to Republic Act (RA) No. 7916, also known as the Special Economic Zone Act of 1995, as amended by RA No. 8748.
• Key Definitions:
  • Special Economic Zone: An area designated for economic activities with incentives to promote investment.
  • Information Technology Center: A designated facility that supports IT-related businesses and services.
• Cross-References:
  • Implementing Rules and Regulations of RA No. 7916.
  • PEZA Board Resolutions No. 00-411 (s. 2000), No. 11-066 (s. 2011), and No. 12-444 (s. 2012).

Designation of the Property

• Explanation: The proclamation designates a specific building located at Bradco Avenue, Aseana City, Parañaque City, as an Information Technology Center.
• Property Description:
  • Name: Aseana Two
  • Location: Bradco Avenue, Aseana City, Parañaque City
  • Area: Ten Thousand Five Hundred Thirty-One (10,531) square meters
  • Technical Description: Lot 17 Pcs-00-006507, situated within certain boundaries as outlined in the legal text.

Boundaries and Survey Details

• Explanation: The document outlines the precise boundaries and survey details of the designated property.
• Important Requirements:
  • The property is bounded by specific lots:
    • NW by Lot 8
    • NE by Lot 23
    • SE by Lot 18
    • SW by Lot 13
• Survey References:
  • Original survey date: November 3 to December 5, 1988.
  • Consolidated subdivision survey date: June 14 to 20, 1995, approved on July 20, 1995.

Execution and Authority

• Explanation: The proclamation is executed under the authority of the President of the Philippines, Benigno S. Aquino III.
• Signatories:
  • Signed by: Benigno S. Aquino III (President).
  • Counter-signed by: Paquito N. Ochoa, Jr. (Executive Secretary).
• Date of Issuance: April 22, 2015.
• Important Consequences: The proclamation formalizes the designation and recognizes the establishment of an IT Center, which may lead to economic benefits and investment opportunities.

Key Takeaways

• Proclamation No. 1008 officially designates Aseana Two as an Information Technology Center in Parañaque City, under the framework of the Special Economic Zone Act.
• The designated property encompasses a defined area with specified boundaries, crucial for legal and developmental purposes.
• This designation is a formal act of government, signed by the President, highlighting the government's role in promoting economic zones and IT investment.
• Compliance with the provisions of RA No. 7916 and its amendments is essential for the continued operation and benefits of the IT Center.