REGIONAL ECONOMIC ZONE AUTHORITY
The Official Website of REZA-ARMM

Power and Functions

a. To operate, administer, manage and develop the ECOZONE according to the principles and provisions set forth in this Act;

b. To register, regulate supervise the enterprises in the ECOZONE in an efficient and decentralized manner;

c. To coordinate with local government units and exercise general supervision over the development, plans, activities and operation of the ECOZONES, industries estates, export processing zones, free trade zones, and the like;

d.   In coordination with the local government units concerned and appropriate agencies, to construct, acquire, own, lease, operate and maintain on its own or through contract, franchise, license, bulk purchase from the private sector and build-operate-transfer scheme or joint venture, adequate facilities and infrastructures, such as light and power system, water supply and distribution systems, telecommunication and transportation, print and media facilities, buildings, structures, warehouses, roads, bridges, ports and other facilities for the operation and development of the ECOZONE, including shipping and related business, stevedoring and port terminal services or concessions, incidental thereto and airport operation in coordination with the Civil Aeronautics Board, and fix just and reasonable rates, fares, charges and other prices therefore;

e.   To create, operate and/or contract to operate such agencies and functional units or offices of the authority as it may deem necessary;

f.    To adopt, after and use a corporate seal; make contracts, lease, own or otherwise dispose of personal or real property; sue and be sued; and otherwise carry out its duties and functions as provided for in this Act;

g.    To coordinate the formulation and preparation of the development plans of the different entities mentioned above;

h.    To coordinate with the Regional planning and Development Office (RPDO), the Department of Trade – ARMM and the local government units and appropriate government agencies for policy and program formulation and implementation;  

i.    To monitor and evaluate the development and requirement of entities in subsection (a) and recommend to the local government units or other appropriate authorities the location, incentives, basic services, utilities and infrastructures required or to be made available for said entities; and

With the limitation provided by law, to raise and/ or borrow the necessary funds local and international financial institution and to issue bonds, promissory notes other securities for that purpose and to secure the same guarantee, pledge, mortgage, deed of trust, or assignment of its properties held by the REZA for the purpose of financing its projects and programs within the framework and limitations of this Act.

 

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