MaKiMa-IT eyed as Clark economic zone in Central Mindanao
General Santos City (30 June) -- The Sarangani provincial government is upbeat over the development of the law passed by Congress supporting the establishment of the Maasim-Kiamba-Maitum Industrial Triangle (MaKiMa-IT) to spur economic development in the area.
Backed up by business and private sectors and the local governments themselves, the proposed special economic zone is expected to be making waves in time with many of the prospective investors expressing interest to pour in millions of investments.
Approved by the joint committees on economic affairs, local government, appropriation, finance, trade and industry and economic affairs, the senate adaptation of the bill authored by Senator Mar Roxas, is now ready to be tackled at the plenary session.
Likewise the House of Representatives has also recommended its approval but committee members have yet to undergo "ocular inspection" of the area, it was learned.
The Makima-IT Special Economic Zone, as specified under the bill will have an approved capital of P10 billion with P6 billion allotted for government activities.
With this set-up, it will authorize the government from national, provincial and local government units of Maasim, Kiamba and Maitum to advance investments in the special zone.
Meanwhile private sectors will have P4 billion as authorized capital. Initially, the Makima-IT will focus on the development of fishing port complex, agro-processing, and manufacturing of local produce.
Earlier officials and representatives from the three towns conferred with Senators Richard Gordon and Mar Roxas to ask for support for the passage of law creating the MaKiMa-IT Special Economic Zone.
Governor Migs Dominguez also made a pronouncement to the local government units and business sectors of Sarangani regarding the establishment of the zone.
The law creating Makima-IT is otherwise known in the House of Senates as senate bill 2983 and in the House of Representatives as house bill 5877 sponsored by Sarangani Congressman Erwin Chiongbian.
Dominguez said that Republic Act 7916 also known as the Special Economic Zone Act of 1995 has cited Sarangani as a priority area for development and was the basis for the proposal.
MaKiMa-IT is spearheaded by the three mayors namely, Kiamba Mayor Rom Falgui, Maasim Mayor Aniceto Lopez Jr., and Maitum Mayor Elsie Perrett.
The Sarangani Chamber of Commerce also manifested full support saying the proposed special zone will help boost the economic activities not only of the constituents of Sarangani but people of the entire Region XII as well.
As this develops, Conal Holdings Corp, a power firm putting up a 200-megawatt power plant project in the town of Maasim has assured that the establishment of its plant will further perk up the proposed industrial zone in Makima area.
Under the proposed bill, investors will also enjoy tax holidays for six years up to 20 years upon investment expansion.
Also included in the package is the approval of "multiple entry visas for foreign nationals and their families working inside the zone" aside from the tax and duty-free importation of raw materials, equipment, and machinery.
Poised to be the local version of Clark economic zone in Central Mindanao, the MaKiMa-IT, Dominguez said, will soon be that investment hub as it is envisioned to become with investments readily pouring in and the unity and teamwork expressed by the town mayors. (PIA SarGen) [top]