NINETEENTH CONGRESS OF THE ) 
REPUBLIC OF THE PHILIPPINES ) 
First Regular Session 
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of to? S-i'crrtnt'p
*22 DEC-6 R2:l2
SENATE
S.B. No. 1 599
RtCEIVEOBV:
Introduced by SENATOR IMEE R. MARCOS
AN ACT
ESTABLISHING A SPECIAL ECONOMIC ZONE IN A PORTION OF THE 
SALOMAGUE COVE AND IN THE MUNICIPALITIES OF SAN JUAN AND 
CABUGAO, PROVINCE OF ILOCOS SUR, CREATING FOR THE PURPOSE THE 
I LOCOS SUR SPECIAL ECONOMIC ZONE AUTHORITY, AND APPROPRIATING
FUNDS THEREFOR
EXPLANATORY NOTE
Article II, Section 20 of the 1987 Philippine Constitution provides that, "The State 
recognizes the indispensable role of the private sector, encourages private enterprise, 
and provides incentives to needed investments."
The Philippines is seen as one of the most vibrant economies in the Southeast 
Asian region, and is expected to grow robustly in the coming years. Vital to its economic 
agenda is economic dynamism and competitiveness. Conversely, the country lags 
behind its peers in terms of inflows of foreign investments, which makes it harder to 
provide business opportunities and create job opportunities.
The increasing competitive environment of the global market merits the creation 
of economic zones. However, in order to reap the full benefits of economic zones, 
various parts of the country must be promoted as alternative areas for investments.
This bill seeks to establish a special economic zone which shall cover a particular 
area located in the Municipalities of San Juan and Cabugao, Province of llocos Sur, 
which shall be managed and operated by the llocos Sur Special Economic Zone 
Authority (ISSEZA). The creation of the llocos Sur Special Economic Zone is based on 
the idea that economic opportunities initiated by the government attract investments
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and tourists, while generating employment. In turn, boosted productivity and increased 
income are expected to raise the quality of life of the local residents.
Moreover, the proposed Ilocos Sur Special Economic Zone will not only 
contribute to the development of the province, but also concomitantly contribute to 
regional and national development as the capital, technological, and knowledge 
spillovers of the ecozone will filter throughout the country, thereby helping attain the 
government's agenda of economic dynamism and competitiveness.
For the foregoing reasons, the passage of this bill is earnestly sought.
EE R. MARCOS


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NINETEENTH CONGRESS OF THE ) 
REPUBLIC OF THE PHILIPPINES ) 
First Regular Session 
)
of l!)f g‘pri'?fnrj>
*22 DEC -6 PI2 :12
HliCElVED B'
SENATE
S.B. No. 1599
Introduced by SENATOR IMEE R. MARCOS
AN ACT
ESTABLISHING A SPECIAL ECONOMIC ZONE IN A PORTION OF THE 
SALOMAGUE COVE AND IN THE MUNICIPALITIES OF SAN JUAN AND 
CABUGAO, PROVINCE OF ILOCOS SUR, CREATING FOR THE PURPOSE THE 
ILOCOS SUR SPECIAL ECONOMIC ZONE AUTHORITY, AND APPROPRIATING
FUNDS THEREFOR
Be it enacted by the Senate and House of Representatives of the Philippines in Congress 
assembled:
CHAPTER I
GENERAL PROVISIONS
SECTION 1. Short Title. - This Act shall be known as the "liocos Sur Special 
Economic Zone Act."
SEC. 2. Declaration of Policy. - It is declared the policy of the State to 
encourage, promote, and accelerate the sound and balanced industrial, economic and 
social development of the country. The establishment of special economic zones shall 
attract legitimate and productive foreign investments in strategic locations in the 
country. It shall generate employment and increase productivity and individual, as well 
as family incomes, thereby enhancing the quality of life of the Filipino people.
CHAPTER II
CREATION OF THE ECONOMIC ZONE AND FREEPORT
SEC. 3. Creation of the liocos Sur Special Economic Zone. - In
accordance with the foregoing declared policy and subject to the concurrence of the


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concerned local government units (LGUs) of Ilocos Sur, there is hereby established a 
special economic zone, hereinafter referred to as the Ilocos Sur Special Economic Zone 
or Ilocos Sur Ecozone. The Ilocos Sur Ecozone shall cover a particular area located in 
the Municipalities of San Juan and Cabugao, Province of Ilocos Sur, the specific metes 
and bounds of which shall be more particularly defined in a presidential proclamation 
that shall be issued for this purpose. Provided, That the lands embraced therein shall 
be contiguous to one another.
SEC. 4. Creation of the Ilocos Sur Special Economic Zone Authority. -
There is hereby created a body corporate to be known as the Ilocos Sur Special 
Economic Zone Authority, hereinafter referred to as the ISSEZA, which shall manage 
and operate the Ilocos Sur Ecozone, in accordance with the provisions of this Act. The 
corporate life of the ISSEZA shall expire in fifty (50) years, counted from the first year 
after the effectivity of this Act, unless otherwise extended by Congress. It shall be 
organized within one hundred eighty (180) days after the effectivity of this Act.
SEC. 5. Governing Principles. - The ISSEZA shall manage and operate the 
Ilocos Sur Ecozone, under the following principles:
a) Within the framework and limitations of the Constitution and applicable 
provisions of Republic Act No. 7160 or the Local Government Code, as amended, the 
Ilocos Sur Ecozone shall be developed into and operated as a decentralized, self-reliant 
and self-sustaining industrial, commercial, trading, agro-industrial, tourist, banking, 
financial, and investment center with suitable residential areas;
b) 
The Ilocos Sur Ecozone shall be equipped with transportation, 
telecommunications, and other facilities needed to attract legitimate and productive 
investments, generate linkage industries and employment opportunities for the people 
of the Municipalities of San Juan and Cabugao and those in neighboring towns and 
cities;
c) The Ilocos Sur Ecozone may establish mutually beneficial economic relations 
with other entities or enterprises within the country or, subject to the administrative 
guidance of the Department of Foreign Affairs, the Philippine Economic Zone Authority 
(PEZA), and the Department of Trade and Industry (DTI), with foreign entities or 
enterprises;
d) Foreign citizens and companies owned by non-Filipinos in whatever 
proportion may set up enterprises in the Ilocos Sur Ecozone, either by themselves or 
in a joint venture with Filipinos in any sector of industry, international trade and 
commerce within the Ilocos Sur Ecozone;


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e) The Ilocos Sur Ecozone shall be managed and operated as a separate customs 
territory thereby ensuring the free flow or movement of goods and capital within, into, 
and out of its territory, and shall likewise provide incentives such as tax and duty-free 
importations of raw materials, capital and equipment to registered enterprises located 
therein, as provided under Republic Act No. 11534, otherwise known as the "Corporate 
Recovery and Tax Incentives for Enterprises Act';
f) The areas comprising the Ilocos Sur Ecozone may be expanded or reduced, 
when necessary, through a presidential proclamation issued for the said purpose. For 
this purpose, the ISSEZA, in consultation with the LGUs, shall have the power to acquire 
either by purchase, negotiation or condemnation proceedings, any private land within 
or adjacent to the Ilocos Sur Ecozone for the following purposes: (1) consolidation of 
lands for zone development; (2) acquisition of right of way to the Ilocos Sur Ecozone; 
and (3) the protection of watershed areas and natural assets valuable to the prosperity 
of the Ilocos Sur Ecozone;
g) Goods manufactured by Ilocos Sur Ecozone enterprise shall be made available 
for immediate retail sale in the domestic market, subject to the payment of 
corresponding taxes on raw materials and other regulations that may be formulated by 
the ISSEZA together with the PEZA, the Bureau of Customs, the Bureau of Internal 
Revenue, and the DTI. However, in order to protect domestic industries, a Negative 
List of industries shall be drawn up and regularly updated by the PEZA. Enterprises 
engaged in industries included in such Negative List shall not be allowed to sell their 
products locally; and
h) The defense of the Ilocos Sur Ecozone and the security of its perimeter fence 
shall be the responsibility of the National Government, in coordination with the ISSEZA 
and the concerned LGUs.
SEC. 6. Development Goals of the Ilocos Sur Ecozone. - The ISSEZA shall 
determine the development goals of the Ilocos Sur Ecozone within the framework of 
national development plans, policies, and goals. The Chairperson-Administrator shall, 
upon approval by the Board of the ISSEZA, submit the Ilocos Sur Ecozone plans, 
programs, and projects to the Regional Development Council for inclusion in the 
regional development plan.
SEC. 7. Capitalization. - The ISSEZA shall have an authorized capital stock of 
two billion pesos (Php 2,000,000,000) no par shares with a minimum issue of Ten pesos 
(PhplO.OO) each, the majority shares of which shall be subscribed and paid for by the 
national government and the LGUs embracing the Ilocos Sur Ecozone. The Board of 
Directors of the ISSEZA may, with the written concurrence of the Secretary of Finance,


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sell shares representing not more than forty per centum (40%) of the capital stock of 
the ISSEZA to the general public under such policy as the Board and the Secretary of 
Finance may determine. The national government and the LGUs shall in no case own 
less than sixty per centum (60%) of the total issued and outstanding capital of the 
ISSEZA.
The amount necessary to subscribe and pay for the shares of the National 
Government to the capital stock of the ISSEZA shall be included in the annual General 
Appropriations Act. For the LGUs concerned, the funds shall be taken from their internal 
revenue allotment and other local funds.
SEC. 8. Principal Office of the ISSEZA. - The ISSEZA shall maintain its 
principal office in the Municipality of Cabugao, Province of Ilocos Sur, but it may 
establish liaison offices within the Philippines as may be necessary for the proper 
conduct of its business.
SEC. 9. Powers and Functions of the ISSEZA. - The ISSEZA shall have the 
following powers and functions:
a) To operate, administer, manage and develop the Ilocos Sur Ecozone 
according to the principles and provisions set forth in this Act,
b) To register, regulate and supervise the enterprises in the Ilocos Sur Ecozone 
in an efficient and decentralized manner, subject to existing laws;
c) To coordinate with LGUs and exercise general supervision over the 
development plans, activities and operations of the Ilocos Sur Ecozone;
d) To regulate and undertake the establishment, construction, operation, and 
maintenance of public utilities, other services, and infrastructure in the Ilocos Sur 
Ecozone such as light and power, shipping, barging, stevedoring, cargo handling, 
hauling, warehousing, storage of cargo, port services or concessions, piers, wharves, 
bulkheads, bulk terminals, mooring areas, storage areas, roads, telecommunications, 
transport, bridges, terminals, conveyors, water supply and storage, sewerage, 
drainage, airport operations in coordination with the Civil Aviation Authority of the 
Philippines, and such other services or concessions or infrastructure necessary or 
incidental to the accomplishment of the objectives of this Act;
e) To construct, acquire, own, lease, operate, and maintain on its own or 
through contracts, franchise, licenses, bulk purchase from the private sector or permits 
under any of the schemes allowed in Republic Act No. 6957, otherwise known as the 
"Build-Operate-Transfer Law", as amended, or joint venture, adequate facilities and 
infrastructure required or needed for the operation and development of the Ilocos Sur


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Ecozone, in coordination with appropriate national and local government authorities
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and in conformity with applicable laws thereon;
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f) To approve plans, programs and projects of the Ilocos Sur Ecozone, to be
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submitted to the Regional Development Council for inclusion and inputs to the overall
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Regional Development Plan;
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g) To operate on its own, either directly or through licenses to others, tourism-
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related activities, including games, amusements, recreational and sports facilities,
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subject to the approval and supervision of the Philippine Amusement and Gaming
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Corporation;
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h) To raise or borrow, within the limitation provided by law, and subject to the
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approval of the Monetary Board of the Bangko Sentral ng Pilipinas (BSP), as the case
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may be, adequate and necessary funds from local or foreign sources, to finance its
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projects and programs under this Act and for this purpose, to issue bonds, promissory
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notes, and other forms of securities, and to secure the same by a guarantee, pledge,
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mortgage, deed of trust or an assignment of all or part of its property or assets;
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i) To protect, preserve, maintain, and develop the forests, beaches, corals and
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coral reefs, and maintain ecological balance within the Ilocos Sur Ecozone.
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Notwithstanding the power of the ISSEZA to create rules for such purpose, the rules
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and regulations of the Department of Environment and Natural Resources and other
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government agencies involved in the above functions shall be implemented by the
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ISSEZA;
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j) To create, operate or contract to operate such functional units or offices of
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the ISSEZA as it may deem necessary;
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k) To adopt, alter, and use a corporate seal; contract, lease, buy, acquire, own
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or otherwise dispose of personal or real property of whatever nature; sue and be sued;
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and otherwise carry out its functions and duties as provided for in this Act;
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I) To issue certificates of origin for products manufactured or processed in the
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Ilocos Sur Ecozone in accordance with prevailing rules of origin and the pertinent
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regulations of the PEZA, the DTI, and the Department of Finance (DOF);
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m) To establish one-stop shops for the issuance of all necessary permits,
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clearances, licenses, and other similar certifications to conduct such activities intended
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to improve the ease of doing business within the Ilocos Sur Ecozone, in coordination
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with government agencies having jurisdiction over activities therein: Provided, That all
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government agencies are directed to provide and extend utmost and full cooperation
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to the ISSEZA in the establishment of such one-stop shops;
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n) To ensure that the area covered by the Ilocos Sur Ecozone is secure at all
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times: Provided, That the Armed Forces of the Philippines (AFP) or the Philippine
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National Police (PNP) shall not interfere in the internal affairs of the ISSEZA except to


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provide the necessary security and defense, or law enforcement assistance, as the case 
may be: Provided, finally, That expenses of the AFP or the PNP in the llocos Sur Ecozone
shall be borne by the national government;
o) To exercise such powers as may be essential, necessary or incidental to the 
powers granted to it by this Act, as well as those that shall enable it to carry out, 
implement and accomplish the purposes, objectives, and policies set forth in this Act; 
and
p) To issue rules and regulations consistent with the provisions of this Act as 
may be necessary to accomplish and implement the purposes, objectives, and policies 
provided herein.
SEC. 10. Board of Directors of the ISSEZA. - The powers of the ISSEZA 
shall be vested in and exercised by a Board of Directors, hereinafter referred to as the 
Board, which shall be composed of the following:
a) A Chairperson, who shall at the same time be the administrator of the ISSEZA;
b) A Vice-Chairperson who shall be elected from among the members of the 
Board of Directors;
c) Members consisting of:
1) The Governor of the Province of llocos Sur or a duly-authorized
representative from the Provincial Government of llocos Sur;
2) One (1) of the mayors of the municipalities covered by the ecozone;
3) One (1) representative from the investors' group; and
4) One (1) representative from among the workers in the llocos Sur
Ecozone.
The Governor or the Governor's duly authorized representative and the mayors 
of the municipalities within the ecozone shall serve as ex officio members of the Board, 
whose terms in the Board shall correspond to their terms as elected officials.
The Chairperson-Administrator and the members of the Board, except for the 
representatives of the investors and workers groups and the ex officio members, shall 
be appointed by the President of the Philippines to serve for a term of six (6) years, 
unless sooner separated from service due to death, voluntary resignation or removal 
for cause. In case of death, resignation or removal for cause, their replacements shall 
serve only the unexpired portion of the respective terms. No person shall be appointed 
as a member of the Board unless the person is a Filipino citizen, of good moral 
character, of proven probity and integrity, and a degree holder in any of the following


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fields: economics, business, public administration, law, management or their 
equivalent, and with at least ten (10) years relevant working experience, preferably in 
the field of management or public administration.
The members of the Board, except the ex officio members, shall each receive 
per diem allowance at rates to be determined by the Department of Budget and 
Management in accordance with existing rules and regulations: Provided, however, 
That the total per diem allowance collected each month shall not exceed the equivalent 
of four (4) meetings unless and until the President of the Philippines has fixed a higher 
rate for the per diem allowance for the members of the Board, such allowance shall 
not be more than Ten thousand pesos (Phpl0,000.00) for every Board meeting.
SEC. 11. Organization and Personnel. - The Board of Directors of the 
ISSEZA shall provide for its organization and staff. The Board shall appoint and fix the 
remuneration and other emoluments of its officers and employees in accordance with 
existing laws on compensation and position classification. The Board shall have 
exclusive and final authority to promote, transfer, assign, reassign, or remove officers 
of the ISSEZA, any provision of existing law to the contrary notwithstanding. The 
Chairperson- Administrator shall execute the decisions of the Board.
The officers and employees of the ISSEZA, including all members of the Board, 
shall not engage directly or indirectly in partisan activities nor take part in any election, 
except to vote.
No officer or employee of the ISSEZA, shall be removed or suspended except 
for cause, as provided by civil service rules and regulations.
SEC. 12. Powers and Duties of the Chairperson-Administrator. - The
Chairperson-Administrator shall have the following powers and duties:
a) To direct and manage the affairs of the ISSEZA in accordance with the policies 
of the Board;
b) To establish the internal organization of the ISSEZA under such conditions 
that the Board may prescribe;
c) To submit an annual budget and necessary supplemental budget to the Board 
for its approval;
d) To submit within thirty (30) days after the close of each fiscal year an annual 
report to the Board and such other reports as may be required;


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e) To submit to the Board for its approval, policies, systems, procedures, rules, 
and regulations that are essential to the operation of the llocos Sur Ecozone;
f) To recommend to the Board the remuneration and other emoluments of its 
officers and employees in accordance with existing laws on compensation and position 
classification;
g) To create a mechanism in coordination with relevant agencies for the 
promotion of industrial peace, the protection of the environment, and the advancement 
of the quality of life in the llocos Sur Ecozone; and
h) To perform such other duties as may be assigned by the Board or which are 
necessary or incidental to the office.
SEC. 13. Legal Counsel. - The ISSEZA shall have its own internal legal 
counsel who shall be under the supervision of the Government Corporate Counsel. 
When the exigencies of business and operations demand it, the ISSEZA may engage 
the services of an outside counsel either on a case to case or on a fixed retainer basis.
CHAPTER III
INCENTIVES TO ECOZONE ENTERPRISES AND INVESTORS
SEC. 14. Investors Visa. - Any foreign national who invests an amount of 
Two hundred thousand US dollars (US$200,000.00) in a registered enterprise, either 
in cash or equipment, shall be entitled to an investor's visa: Provided, That the foreign 
national has the following qualifications:
a) Must be at least eighteen (18) years of age;
b) Must not have been convicted by final judgment of a crime involving moral
turpitude;
c) Must not be afflicted with any dangerous or contagious disease;
d) Must not have been confined in an institution for any mental disorder or
disability; and
e) Must be financially capable as borne out by credible and verifiable evidence.
With an investor's visa, an alien shall be entitled to reside in the Philippines while 
the investment subsists. The alien investor shall submit an annual report, in the form 
duly prescribed for the purpose, to prove that the investment in the country subsists. 
Should said alien investor withdraw the investments from the Philippines, then the 
investor's visa issued to said alien shall automatically expire and be withdrawn.


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The authority to issue visas and work permits shall remain with the Bureau of 
Immigration (BI) and the Department of Labor and Employment (DOLE), respectively: 
Provided, That the BI and the DOLE shall implement measures to expedite the 
processing of such visas and permits for workers in the Ilocos Sur Ecozone and 
coordinate closely with the ISSEZA to facilitate the conduct of business operations.
SEC. 15. Fiscal Incentives. - Registered enterprises operating within the 
Ilocos Sur Economic Zone may be entitled to the existing fiscal incentives provided and 
granted under Title XIII (Tax Incentives) of the National Internal Revenue Code of 
1997, as amended by Republic Act No. 11534, otherwise known as the "Corporate 
Recovery and Tax Incentives for Enterprises Act".
SEC. 16. Administration, Implementation and Monitoring of 
Incentives. - In the interest of enhancing transparency in the management and 
accounting of tax incentives in the Ilocos Sur Ecozone, and ensuring the proper 
administration, management, enforcement, implementation and monitoring of tax 
incentives, the ISSEZA shall comply with the provisions of Republic Act No. 11534, 
otherwise known as the "Corporate Recovery and Tax Incentives for Enterprises Act.
The BOC shall set up and establish a customs-controlled area outside the 
premises of the Ilocos Sur Ecozone to facilitate payment of duties and taxes on goods 
entering the Philippine customs territory: Provided, That notwithstanding the 
limitations on this Act, the ISSEZA and BOC may coordinate and jointly implement 
measures on border protection.
SEC. 17. Banking Rules and Regulations. - Banks and financial institutions 
to be established in the Ilocos Sur Ecozone shall be under the supervision of the BSP 
and subject to existing banking laws, rules and regulations.
SEC. 18. Remittances. - In the case of foreign investments, a duly registered 
entity or enterprise within the Ilocos Sur Ecozone shall have the right to remit earnings 
to its investors in the currency in which the investment was originally made and at the 
exchange rate prevailing at the time of remittance, subject to the provisions of Republic 
Act No. 7653, otherwise known as the "New Central Bank Act" as amended.


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CHAPTER IV
NATIONAL GOVERNMENT AND OTHER ENTITIES
SEC. 19. Supervision and Control. - For purposes of policy direction and 
coordination, the ISSEZA shall be under the direct control and supervision of the Office 
of the President of the Philippines.
SEC. 20. Relationship with Local Government Units. - Except as herein 
provided, the LGUs comprising the llocos Sur Ecozone shall retain their basic autonomy 
and identity. The Municipalities of San Juan and Cabugao, Province of llocos Sur, shall 
operate and function in accordance with the framework of the Constitution, the Local 
Government Code of 1991, as amended, and this Act.
In case of any conflict among the ISSEZA, the LGUs and the national 
government on matters affecting the llocos Sur Ecozone, other than national defense 
and security matters, the decision of the ISSEZA shall prevail.
SEC. 21. Audit. -The Commission on Audit shall appoint a full-time auditor for 
the ISSEZA and may assign such number of personnel as may be necessary to assist 
the auditor in the performance of the auditor's functions.
CHAPTER V 
MISCELLANEOUS
SEC. 22. Interpretation and Construction. - The powers, authorities and 
functions that are vested in the ISSEZA are intended to establish national self- 
sufficiency and self-reliance in the advancement of and protection of the national 
integrity, enhancement of national security, decentralization of governmental functions 
and authority, and promotion of an efficient and effective working relationship among 
the ISSEZA, the national government and the LGUs. Any interpretation of this Act shall 
consider such intentions. In the event of conflict of interpretation and provided the 
intentions cannot be harmonized, the provisions of this Act shall be construed in favor 
of an interpretation that shall protect national security.
SEC. 23. Applicability Clause. - Insofar as they are consistent with the 
provisions of this Act, the provisions of Sections 30 to 41 of Republic Act No. 7916, 
otherwise known as "The Special Economic Zone Act of 1995", as amended, shall 
likewise apply to the llocos Sur Ecozone.
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SEC. 24. Implementing Rules and Regulations. - Within sixty (60) days 
from effectivity of this Act, the DTI shall, in coordination with the DOF and the National 
Economic and Development Authority, formulate rules and regulations for the effective 
implementation of the provisions of this Act.
SEC. 25. Separability Clause. - If any provision of this Act shall be held 
unconstitutional or invalid, the other provisions not otherwise affected shall remain in 
full force and effect force and effect.
SEC. 26. Repealing Clause. - All laws, executive orders or issuances or any 
part thereof, which are inconsistent herewith, are hereby repealed or amended 
accordingly.
SEC. 27. Effectivity. - This Act shall take effect fifteen (15) days after its 
publication in the Official Gazette or in a newspaper of general circulation.
Approved,
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