Description of the Special Economic Zone
- The subject area is located in Barangay Bugo, Cagayan de Oro City, Province of Misamis Oriental, Mindanao.
- It covers an aggregate area of approximately 272,558 square meters.
- The boundaries and technical description of the land are detailed through lot numbers, plans, and coordinates.
- The land is part of the private domain.
Applicable Laws and Regulations
- The designation is subject to the provisions of Republic Act No. 7916, as amended by Republic Act No. 8748.
- Implementation must also follow the Implementing Rules and Regulations of Republic Act No. 7916.
- The resolution No. 07-238 of the Board of Directors of PEZA dated June 13, 2007, is incorporated into the designation.
Technical Survey and Land Demarcation
- The technical survey dates back to the original survey on August 8, 1827.
- A consolidated survey approved on August 11, 1977, defines the land classification and boundaries.
- The perimeter of the area is marked on the ground with bearings true to geodetic data.
Formality and Effectivity
- The proclamation is signed by the President of the Philippines and the Executive Secretary.
- It was issued in Manila on November 22, 2007.
- The area is formally established as a Special Economic Zone, enabling it to avail of incentives and regulatory benefits under applicable laws.
Legal and Administrative Impact
- The designation confers special status facilitating economic activities, investments, and development in the area.
- PEZA is empowered to administer and regulate activities within the zone.
- The area benefits from the incentives and streamlined procedures prescribed under the Special Economic Zone Act.
Geographic and Boundary Specifications
- Detailed boundary descriptions include adjoining lots and landmarks such as the National Highway.
- The detailed technical description includes compass bearings and distances of each demarcation point.
- The survey maps and detailed consolidation plans form the legal basis for the zone dimensions and location.