AN ACT ESTABLISHING THE AURORA SPECIAL ECONOMIC ZONE IN THE PROVINCE OF AURORA

Case Overview and Summary

Summary of the Aurora Special Economic Zone Act of 2007

Establishment of the Aurora Special Economic Zone
- The Aurora Special Economic Zone is established in the Province of Aurora. (Section 3)
- The Aurora Special Economic Zone shall cover the municipalities of Baler, Dipaculao, Maria Aurora, San Luis, Dingalan, and Casiguran. (Section 4)

Creation of the Aurora Special Economic Zone Authority
- The Aurora Special Economic Zone Authority (ASEZA) is created as a body corporate to manage and operate the Aurora Special Economic Zone. (Section 5)
- The ASEZA shall be governed by a Board of Directors composed of various government officials and private sector representatives. (Section 6)
- The ASEZA shall have the following powers and functions: (Section 7)
    - Operate, administer, manage, and develop the Aurora Special Economic Zone
    - Register, regulate, and supervise the enterprises in the Aurora Special Economic Zone
    - Construct, acquire, own, lease, operate, and maintain infrastructure facilities within the Aurora Special Economic Zone
    - Raise funds from local and foreign sources
    - Issue permits, licenses, and other forms of authorization
    - Formulate and implement policies and guidelines for the Aurora Special Economic Zone

Incentives and Benefits
- Enterprises registered with the ASEZA shall be entitled to fiscal and non-fiscal incentives, including income tax holiday, tax and duty exemptions, and simplified import and export procedures. (Section 23)

Appropriations
- The amount of One Hundred Million Pesos (₱100,000,000.00) is appropriated for the initial operating requirements of the ASEZA. (Section 28)