She said the creation of the GenSan freeport authority would be in line with the thrust of the Arroyo administration in developing Mindanao.
Legarda authored a similar measure during the 11th Congress, as chairperson of the Senate committee on economic affairs. The measure was endorsed by then General Santos City Mayor Adelbert Antonino.
"The vast potential of General Santos City in the fishing industry calls for further improvement and enhancement of the city to enable it to contribute to the development of our nation as a whole," she said.
The GenSan ecozone will be maintained and developed jointly by local government and non-government units under the administrative guidance of the Department of Foreign Affairs, the Philippine Economic Zone Authority and the Department of Trade and Industry.
The measure provides incentives to participating local and foreign investors.
"Mindanao has long been neglected in terms of infrastructure and services development," Legarda said.
She expressed hope that the passage of the measure would invigorate business activities in General Santos City and the adjoining Southern Cotabato, Sarangani and Sultan Kudarat provinces. — Efren Danao