More investments seen to enter Clark freeport

MANILA, Philippines - More investments are expected to come in at the Clark Freeport Zone as moves to open the so-called “Next Frontier” is under way.

The Clark Development Corp. (CDC) announced it will submit the blueprint for The Next Frontier to Malacañang. CDC president Benigno Rica-fort said there is only limited space available for investment in the original freeport zone.

The “Next Frontier” is a term coined to describe the vast stretch of lands along the Sacobia Valley which is now the Clark Special Economic Zone, Ricafort explained.

It is being pursued by the CDC in consonance with the Joint Management Agreement (JMA) – a contract signed on Dec. 6, 2007 by CDC, the National Commission on Indigenous Peoples 00 of Aeta tribes who have inherent rights over certain areas of the Sacobia Valley under the Ancestral Domain Claims, Ricafort added.

Ricafort said the JMA and the Next Frontier enable the CDC to generate investment potentials in tourism, housing, commercial, institutional and light industry projects in the Sacobia Valley, the undertaking also ensures the recognition and promotion of the overall welfare of the Aeta tribes in the area.

CDC executive vice president Philip JB Panlilio said the master development plan is CDC’s “expression of service” that is in line with President Arroyo’s thrust to transform Clark and Subic, including its contingent environs, as a world-class logistics and services hub nestled at the heart of the Central Luzon region.

“We received positive response from the Clark stakeholders we’ve met during the roadshow. We will, likewise, incorporate their sincere comments and inputs in the master development plan before submitting it to the President next week,” Panlilio said referring to a recently concluded investment mission.

He added that at least six groups have passed resolutions signifying their support to the master development plan. They are the Metro Clark Advisory Council, the Pampanga Mayors League, and at least four Pampanga-based media organizations.

In spite of the global financial crunch, job opportunities in Clark Freeport Zone continue as 3,000 new jobs are about to open after four new lease agreements were signed recently.

Earlier, Ricafort said that job opportunities will continue to remain strong inside the Clark freeport citing the recent signing of four new lease agreements with a committed employment of 3,000 workers.

To date, Clark’s total number of operational firms reached 434 infusing new committed investment of P36.51 billion.

The Freeport’s actual investment have already reached P68.63 billion from various Clark firms that are mostly industrial, garments manufacturing, tourism, IT and electronics, and Business Process Outsourcing industries. 

Ricafort explained that his optimism for Clark is anchored on strong investor performance as shown by reports from stakeholders who continue to hold dialogue and consultations with the CDC.