BCDA approves P53.5B in investments in first 7 months
THE Bases Conversion and Development Authority (BCDA) said it approved P53.5 billion worth of proposed investments in the first seven months.
In a statement on Thursday, the BCDA said approvals during the period rose 63.82% from a year earlier.
These projects are expected to generate 7,000 jobs in New Clark City in Tarlac and Camp John Hay in Baguio. The year-earlier jobs-generation tally for approved proposals had been 6,544.
BCDA President and Chief Executive Officer Joshua M. Bingcang said the proposals reflect growing investor confidence in BCDA-managed economic zones.
“These numbers represent opportunities for thousands of Filipinos and signal the private sector’s trust in our vision of resilient, smart, and inclusive cities,” he added.
The approvals include projects of Science Park of the Philippines, Inc. which signed a 50-year contract to develop a 100-hectare industrial park in New Clark City worth P2.7 billion.
The BCDA also approved investments by the consortium of Sta. Clara International Corp., Saekyung Realty Corp., and Korea Overseas Infrastructure and Urban Development Corp., as well as by the Bangko Sentral ng Pilipinas, which is setting up a new complex in New Clark City.
Other investors include Ayala Land, Inc., Stern Real Estate, Top Taste and Trading, Inc., Amare La Cucina, and Prime Collective Corp. in Camp John Hay.
“As we drive progress in Central and Northern Luzon, we are proving that government-led development can attract private capital, unlock economic potential, and transform entire regions,” Mr. Bingcang said.
He said approval levels “underscore the growing momentum behind public-private partnerships in transforming government-owned developments into engines of economic growth.”
Earlier this year, the BCDA said it expects investments in Camp John Hay to hit P10 billion after it took over the property in January. — Justine Irish D. Tabile
