Republic of the Philippines 
House of Representatives 
Quezon City, Metro Manila
Twentieth Congress 
First Regular Session 
HOUSE BILL NO. 1427 
Introduced by HON. ROMERO FEDERICO “MIRO” QUIMBO 
EXPLANATORY NOTE 
Special economic zones have long been a tested model for attracting 
investments, fostering industrial development, and generating employment 
opportunities. This bill seeks to establish the Marikina Special Economic Zone 
(Marikina Ecozone) and create the Marikina Economic Zone Authority (MarEZA) 
to oversee its development and management. This initiative aims to transform 
Marikina into a dynamic hub for trade, manufacturing, and innovation, ensuring 
sustainable economic growth and job creation for its residents. 
Marikina has historically been a center for micro, small, and medium 
enterprises (MSMEs), particularly in the footwear and leather industries. 
However, changes in global trade, shifting market dynamics, and infrastructure 
limitations have constrained its ability to compete on a larger industrial scale. This 
bill presents a comprehensive policy response—establishing a well-planned 
economic zone that will revitalize industries, attract investors, and create 
employment opportunities for the people of Marikina.  
At its core, this measure prioritizes job creation as a fundamental objective. 
By fostering an environment that encourages business growth and industrial 
expansion, this bill will generate sustainable, high-quality employment within 
July 7, 2025
11:33 am


2 
Marikina. The Ecozone’s development will directly translate to new 
manufacturing, logistics, technology, and service sector jobs, ensuring that 
economic progress is felt by local communities. Moreover, linkages with MSMEs 
and skills training programs will be established to enhance employability and 
workforce competitiveness, allowing more Marikeños to participate in the benefits 
of economic expansion.  
Under this measure, the Marikina Ecozone will be developed as an 
industrial and commercial hub with access to modern infrastructure, streamlined 
regulatory processes, and targeted incentives designed to attract and retain 
investors. The MarEZA will serve as the lead agency responsible for managing 
investments, business facilitation, and infrastructure development within the 
Ecozone, ensuring that economic policies remain strategic, accountable, and 
responsive to local stakeholders. 
This bill provides for: 
1. Employment Generation & Industry Growth – The Ecozone will be
positioned as a prime location for manufacturing, logistics, and high-value
industries, leveraging Marikina’s skilled workforce and industrial heritage
to generate sustainable, long-term employment.
2.
Ease of Doing Business & Fiscal Incentives – A one-stop shop for permits
and clearances will be established, ensuring streamlined processes.
Investors will benefit from fiscal incentives consistent with the CREATE
MORE Law and PEZA regulations, promoting business expansion that
translates to job creation.
3. MSME Integration & Inclusive Growth – The economic transformation of
Marikina must uplift local businesses and workers. This bill ensures that
MSMEs are integrated into the supply chain, creating employment
opportunities at various skill levels.
4.
Sustainability & Infrastructure Development – The Ecozone will prioritize
resilient and sustainable urban planning, including flood control,


3 
transportation networks, and digital infrastructure, ensuring a stable 
environment for business and job growth. 
The MarEZA Board of Directors will include key economic policymakers, 
such as the Secretaries of Trade and Industry (DTI), Finance (DOF), and Economy, 
Planning, and Development (DEPDev), the Director General of PEZA, and 
representatives from the private sector and labor groups. This governance 
structure ensures that economic zone policies are aligned with national economic 
priorities while directly addressing local employment and business concerns. 
By ensuring that Marikina’s economic future is built on industrial 
revitalization, investment promotion, and job creation, this measure strengthens 
the city’s role as a key economic player in the National Capital Region. More than 
just attracting businesses, this bill is about creating meaningful employment, 
enhancing worker welfare, and securing the economic future of Marikeños. 
In view of the foregoing, the immediate passage of this bill is earnestly 
sought. 
       HON. ROMERO FEDERICO “MIRO” QUIMBO 
         Representative 
      Second District, Marikina City  


4 
Republic of the Philippines 
House of Representatives 
Quezon City, Metro Manila 
Twentieth Congress 
First Regular Session 
HOUSE BILL NO. 1427 
Introduced by HON. ROMERO FEDERICO “MIRO” QUIMBO 
AN ACT 
ESTABLISHING A SPECIAL ECONOMIC ZONE IN THE CITY OF 
MARIKINA, CREATING FOR THE PURPOSE THE MARIKINA 
SPECIAL 
ECONOMIC 
ZONE 
AUTHORITY, 
AND 
APPROPRIATING FUNDS THEREFOR 
Be it enacted by the Senate and the House of Representatives of the Philippines in the 
Congress assembled: 
CHAPTER I 
GENERAL PROVISIONS 
SECTION 1. Short Title. -  This Act shall be known as the “Marikina 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 


 
5 
 
locations in the country. It shall generate employment, enhance productivity, and 
increase individual and family incomes, thereby enhancing the quality of life of 
the Filipino people.  
 
CHAPTER II  
CREATION OF THE ECONOMIC ZONE  
 
SEC. 3. Creation of the Marikina Special Economic Zone. – There is hereby 
created a special economic zone in Barangay Tumana, Marikina City, hereinafter 
referred to as the Marikina Special Economic Zone or Marikina Ecozone. The 
Marikina Ecozone shall be established in the property owned by the GSIS 
Corporation, a government-owned and controlled corporation, under an 
agreement to be executed between the MarEZA and the GSIS Corporation, the 
specific metes and bounds of which shall be more particularly defined in the 
agreement. 
 
SEC. 4. Creation of the Marikina Special Economic Zone Authority. - There 
is hereby created a body corporate to be known as the Marikina Economic Zone 
Authority, hereinafter referred to as the MarEZA, which shall manage and operate 
the Marikina Ecozone, in accordance with the provisions of this Act. The corporate 
life of the MarEZA 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 MarEZA shall manage and operate the 
Marikina Ecozone, under the following principles: 
 
a) Within the framework and limitations of the Constitution, the applicable 
provisions of Republic Act (RA) No. 8291, or the The Government Service 
Insurance System Act of 1997, as amended, RA No. 7160, or the Local 
Government Code, as amended, and other pertinent laws, rules and 


 
6 
 
regulations, the Marikina 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 
Marikina 
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 Marikina City, and those in neighboring 
towns and cities; 
 
c) The Marikina 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) Subject to the provisions of the Constitution and pertinent laws, rules and 
regulations, foreign citizens and companies owned by non-Filipinos may 
set up enterprises in the Marikina Ecozone, either by themselves or in a joint 
venture with Filipinos in any sector of industry, international trade, and 
commerce within the Marikina Ecozone;  
 
e) The Marikina 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 subject to Title XIII of the National Internal Revenue Code 
(NIRC) of 1997, as amended. However, exportation or removal of goods 
from the territory of the Marikina Ecozone to the other parts of the 
Philippine territory shall be subject to customs duties and taxes under RA 
10863, or the “Customs Modernization and Tariff Act (CMTA)'' and other 


 
7 
 
relevant tax laws of the Philippines; 
 
f) The areas comprising the Marikina Ecozone may be expanded or reduced 
when necessary through a presidential proclamation issued for the 
purpose. For this purpose, the MarEZA, in consultation with the GSIS and 
concerned LGU/s, shall have the power to acquire either by purchase, 
negotiation or condemnation proceedings, any private land adjacent to the 
Marikina Ecozone for the following purposes: (1) consolidation of lands for 
zone development; (2) acquisition of right of way as may be necessary for 
ecozone operations; and (3) protection of natural assets valuable to the 
prosperity of the Marikina Ecozone.; 
 
g) Goods manufactured by a Marikina Ecozone enterprise may 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 MarEZA, in coordination 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 Marikina Ecozone and the security of its perimeter fence 
shall be the responsibility of the national government, in coordination with 
the MarEZA and the concerned barangays. 
 
 
SEC. 6.  Development Goals of the Marikina Ecozone. - The MarEZA shall 
determine the development goals of the Marikina Ecozone within the framework 
of national development plans, policies, and goals. The Chairperson-
Administrator shall, upon approval by the Board of the MarEZA submit the 
Marikina Ecozone plans, programs, and projects to the Regional Development 


 
8 
 
Council for inclusion in the regional development plan.  
 
 
 
SEC. 7. Capitalization. - The MarEZA shall have an authorized capital 
stock of two billion (2,000,000,000) no-par shares with a minimum issue of ten 
pesos (Php10.00) each, the majority shares of which shall be subscribed and paid 
for by the national government and the GSIS. The Board of Directors of the 
MarEZA may, with the written concurrence of the Secretary of Finance, sell shares, 
representing not more than forty per centum (40%) of the capital stock of the 
MarEZA to the general public under such policy as the Board and the Secretary of 
Finance may determine. The national government and the GSIS shall in no case 
own less than sixty per centum (60%) of the total issued and outstanding capital 
of the MarEZA. 
 
 
SEC. 8. Principal Office of the MarEZA - The MarEZA shall maintain its 
principal office in Marikina City, National Capital Region, 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 MarEZA – The MarEZA shall have the 
following powers and functions: 
 
a) Operate, administer, manage, and develop the Marikina Ecozone according 
to the principles and provisions set forth in this Act; 
 
b) Register, regulate, and supervise the enterprises in the Marikina Ecozone in 
an efficient and decentralized manner, subject to existing laws;  
 
c) Coordinate with the Regional Development Council and exercise general 
supervision over the development plans, activities, and operations of the 
Marikina Ecozone; 


 
9 
 
 
d) Regulate and undertake the establishment, construction, operation, and 
maintenance of public utilities, other services, and infrastructure in the 
Marikina Ecozone such as light and power, shipping, barging, stevedoring, 
cargo handling, hauling, housing, 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) 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 RA 6957, or the “Build-
Operate-Transfer Law”, as amended, or joint venture, adequate facilities 
and infrastructure required or needed for the operation and development 
of the Marikina Ecozone, in coordination with appropriate national and 
local government authorities and in conformity with applicable laws; 
 
f) Approve plans, programs, and projects of the Marikina Ecozone to be 
submitted to the Regional Development Council for inclusion in the 
regional development plan;   
 
g) Operate directly or indirectly or license tourism-related activities, games, 
and amusements, except horse racing, dog racing, casino, and other forms 
of gaming, which shall continue to be licensed and regulated by the 
Philippine Amusement and Gaming Corporation, upon recommendation 
of the MarEZA;    
 
h) Raise or borrow, within the limitation provided by law, and subject to the 


 
10 
 
approval of the President of the Philippines and the approval or opinion of 
the Monetary Board of the Bangko Sentral ng Pilipinas (BSP), upon 
recommendation of the Department of Finance (DOF), as the case may be, 
adequate and necessary funds from local or foreign sources, to finance its 
projects and programs under this Act and for this purpose, to issue bonds, 
promissory notes, and other forms of securities, and to secure the same by 
a guarantee, pledge, mortgage, deed of trust or an assignment of all or part 
of its property or assets; 
 
i) Create, operate, or contract to operate such functional units or offices of the 
MarEZA as it may deem necessary; 
 
j) Adopt, alter, and use a corporate seal; contract, lease, buy, acquire, own, or 
otherwise dispose of personal or real property of whatever nature; sue and 
be sued; and otherwise carry out its functions and duties as provided for in 
this Act;  
 
k) Issue certificates of origin for products manufactured or processed in the 
Marikina Ecozone in accordance with prevailing rules of origin and the 
pertinent regulations of the PEZA, the DTI, and the DOF; 
 
l) Establish one-stop shops for the issuance of all necessary permits, 
clearances, licenses, and other similar certifications to conduct such 
activities intended to improve the ease of doing business within the 
Marikina Ecozone, in coordination with government agencies having 
jurisdiction over activities therein: Provided, That all government agencies 
are directed to provide and extend utmost and full cooperation to the 
MarEZA in the establishment of such one-stop shops; 
  
m) Ensure that the area covered by the Marikina Ecozone is secure at all times: 
Provided, That the Armed Forces of the Philippines (AFP) or the Philippine 


 
11 
 
National Police (PNP) shall not interfere in the internal affairs of the 
MarEZA except to 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 Marikina Ecozone shall be borne by the 
national government; 
 
n) 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  
 
o) 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 MarEZA. - The powers of the MarEZA 
shall be vested in and exercised by a Board of Directors, hereinafter referred to as 
the Board, which shall be composed of the following: 
 
The Board of Directors of the MarEZA shall be composed of the following: 
a) A Chairperson, who shall at the same time be the Administrator of the 
MarEZA;  
b) A Vice-Chairperson, who shall be elected from among the members of the 
Board of Directors;  
c) Members consisting of: 
1) The Secretary of the Department of Trade and Industry (DTI); 
2) The Secretary of the Department of Finance (DOF); 
3) The Secretary of the Department of Economy, Planning, and 
Development (DEPDev);  
4) The Director General of the Philippine Economic Zone Authority 
(PEZA);  


 
12 
 
5) The President of the Government Service Insurance System (GSIS);  
6) Two (2) representatives from the private sector of Marikina City;  
7) One (1) representative from the investors’ group;  
8) One (1) representative from among the workers in the Marikina 
Ecozone; and  
9) Two (2) independent directors with proven expertise in business and 
international trade  
 
The Chairperson-Administrator 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, the replacement shall serve only the unexpired 
portion of the term of office. The Chairperson-Administrator shall be a Filipino 
citizen, of good moral character, of proven probity and integrity, and a degree 
holder in any of the following 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 Board members representing the investors and workers groups shall be 
elected from their respective organizations, in separate elections duly called for 
the purpose by the Board.  
 
The members of the Board shall receive a 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 (Php10,000.00) for every Board meeting. 
 


 
13 
 
 
SEC. 11. Organization and Personnel. – The Board of Directors of the 
MarEZA 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 MarEZA 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 MarEZA, including all members of the 
Board, shall not engage directly or indirectly in partisan political activities nor take 
part in any election, except to vote. 
 
 
No officer or employee of the MarEZA 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) Direct and manage the affairs of the MarEZA in accordance with the 
policies of the Board; 
 
b) Establish the internal organization of MarEZA under such conditions that 
the Board may prescribe; 
 
c) Submit an annual budget and necessary supplemental budget to the Board 
for its approval; 
 
d) 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;  
 


 
14 
 
e) Submit to the Board for its approval, policies, systems, procedures, rules, 
and regulations that are essential to the operation of the Marikina Ecozone; 
 
f) 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) 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 Marikina Ecozone; and 
 
h) 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 MarEZA 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 MarEZA 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. Investor's 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;  


 
15 
 
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, a foreign national shall be entitled to reside in the 
Philippines while the investment subsists. The foreign national shall submit an 
annual report, in the form duly prescribed for the purpose, to prove that the 
investment in the country subsists. Should said foreign national withdraw the 
investments from the Philippines, then the investor's visa issued to said foreign 
national shall automatically expire and be withdrawn.   
 
 
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 Marikina 
Ecozone and coordinate closely with the MarEZA to facilitate the conduct of 
business operations. 
 
 
SEC. 15.  Fiscal Incentives. - Registered enterprises of the Marikina Ecozone 
may be entitled to pertinent fiscal incentives granted under Title XIII of the NIRC 
of 1997, as amended. 
 
 
SEC. 16. Imposition of a Tax Rate of Five Percent (5%) on Special 
Corporate Income Tax. – No taxes, local and national, shall be imposed on business 
establishments operating within the Marikina Ecozone, including income tax, 
withholding tax, donor’s tax, percentage tax, and documentary stamp tax. In lieu 
thereof, and subject to Section 15 of this Act, said business establishments shall pay 
a five percent (5%) final tax on special corporate income tax: Provided, That the 
proceeds from such final tax shall be shared by instrumentalities of the 


 
16 
 
government in accordance with the following schedule:  
 
a) Three per centum (3%) to the National Government;  
b) Two per centum (2%) shall be directly remitted by the business 
establishments to the treasurer’s office of the municipality where the 
enterprise is located.  
 
 
The MarEZA shall have the authority to grant an income tax holiday and 
net operating loss carry over subject to Section 15 of this Act and conditions as it 
may have imposed pursuant to Section 15 of this Act. 
 
 
SEC. 17. Rules and Regulations Governing Banks and Other BSP-
Supervised Financial Institutions. – Banks and other BSP-supervised financial 
institutions to be established in the Marikina 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 Marikina 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 RA 7653, or the “New Central Bank Act” as amended, and BSP rules 
and regulations.  
 
 
CHAPTER IV 
NATIONAL GOVERNMENT AND OTHER ENTITIES 
 
SEC. 19.  Supervision and Control. - For purposes of policy direction and 
coordination, the MarEZA shall be under the direct control and supervision of the 
Office of the President of the Philippines: Provided, That the grant of fiscal 
incentives shall be subject to the provisions on Title XIII of the NIRC of 1997, as 
amended. 


 
17 
 
 
SEC. 20. Relationship with Local Government Unit. – Except as herein 
provided, the City of Marikina where registered enterprises of the Marikina 
Ecozone conduct business, shall operate and function in accordance with the 
framework of the Constitution, Local Government Code of 1991, Republic Act No. 
7898, as amended by Republic Act No. 10349, and applicable provisions of and this 
Act. 
 
In case of any conflict among the MarEZA, Marikina City, and the national 
government on matters affecting the Marikina Ecozone, other than national 
defense and security matters, the decision of the MarEZA shall prevail. 
 
SEC. 21. Audit. - The Commission on Audit shall exercise its jurisdiction 
over the MarEZA in accordance with its mandate under Section 2(2), Article XI-D 
of the 1987 Philippine Constitution. 
 
CHAPTER V 
APPROPRIATIONS AND MISCELLANEOUS PROVISIONS 
 
SEC.  22. Appropriations. - The amount necessary to subscribe and pay for 
the shares of the national government to the capital stock of the MarEZA shall be 
included in the annual General Appropriations Act.  
 
SEC. 23. Interpretation and Construction. - The powers, authorities and 
functions that are vested in the MarEZA 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 MarEZA, the national government and the concerned 
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 


 
18 
 
provisions of this Act shall be construed in favor of an interpretation that shall 
protect national security. 
 
SEC. 24.  Applicability Clause. – Insofar as they are consistent with the 
provisions of this Act, the provisions of Sections 30 to 41 of RA 7916, or "The 
Special Economic Zone Act of 1995", as amended, shall likewise apply to the 
Marikina Ecozone. 
 
 
SEC. 25. Implementing Rules and Regulations. - Within sixty (60) days from 
the 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. 26. 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. 
 
SEC. 27.  Repealing Clause. - All laws, executive orders or issuances or any 
part thereof, which are inconsistent herewith, are hereby repealed or amended 
accordingly. 
 
SEC. 28. Effectivity. - This Act shall take effect fifteen (15) days after its 
publication in the Official Gazette or in a newspaper of general circulation. 
 
Approved,