Lawmakers voted 197-6 on House Bill No. 8212 which, among others, would establish a government-sanctioned arms industry that produces conventional weapons and equipment for domestic use and export, and boost the country’s competence in the field of arms research and development. The bill also seeks to enhance investment opportunities and strengthen the country’s economic and defense capability.
Investors’ visas will also be provided to foreign investors with investments of at least $200,000, according to the bill. Rep. Arlene Brosas of the Gabriela Women’s Party said building a special defense economic zone does not mean that the national government would have “better and more viable” defense capability.
The lawmaker also doubted that the special economic zone would reduce the country’s reliance on second-hand military equipment from abroad. Watch more in iWantTFC ACT Teachers Party-list Rep. France Castro said the creation of the ecozone would pave the way for an “investment haven” that would benefit only rich businesses.