Clark gets P7-B investments

Clark Development Corp. (CDC) announced yesterday that it posted a total of P7.06 billion in investment commitments from 161 contracts over the next five years between March 2001 and December 2002.

CDC president and chief operating officer Dr. Emmanuel Y. Angeles said that this feat is the third largest investment commitment or 13.76 percent of the total investment commitments since CDC’s inception in 1993.

Angeles credited CDC’s growth to President Arroyo’s efforts in "improving the quality of life, through generation of revenues and job opportunities in keeping with CDC’s battle cry of productivity and profitability, safety and security for the welfare of the great majority."

Angeles, who founded the Angeles University Foundation (formerly Angeles Institute of Technology), also said the re-opening of Pagcor-operated Casino Filipino-Mimosa has earned for CDC a total of P92.7 million while Pagcor and the government got P231.8 million and P324.6 million, respectively.

The reopening of Clark Expo (formerly Centennial Expo), on the other hand, will pave the way for the development of science, technology, education, entertainment, trade exhibition and recreation centers. Clark Expo will be fully operational in three to six months after undergoing a major facelift.