Clark exports rise to $891 million in first half

CLARK FREEPORT, Pampanga, Philippines - The state-owned Clark Development Corp. (CDC) said exports from the economic zone in this year’s first semester reached $891 million, already comprising 33 percent of Central Luzon’s $2.7 billion exports last year.

A report submitted by CDC’s  enterprise regulatory department to CDC president Benigno Ricafort said the export earnings represent a 93 percent increase over the $387 million export shipments in last year’s first semester.

“We are optimistic we will hit our target of $1 billion worth of exports by yearend as there are indications we will steam ahead in the second semester,” Ricafort said.

The CDC report showed that Nanox Philippines Inc. is the biggest exporter with $493 million worth of its products shipped out during the period, higher by 59 percent than in the first semester last year.

Second was Yokohama Tire Phils. Inc. which maintained its $106 million export output for the first semester this year.

Ricafort also noted a record 58,023 employment at Clark by the end of 2009, amid estimates of at least 3,889,000 employed labor force in Central Luzon.

The CDC also reported that investments in the freeport is estimated at  P6.3 billion or comprising 19 percent of the region’s estimated P33.8 billion investments last year.

“Clark will have bigger contributions as the global economy recovers. We have good projects in the pipeline, and the number of capability-enhancing measures instituted by CDC this year is sure to bring in positive results,” Ricafort said.

He said that “ultimately, it is CDC’s performance as a development corporation that will determine the freeport’s success.

“It is imperative that the development in Clark continue to elevate the lives of the thousands of people gainfully employed in the zone, along with their families. “A resurgent Clark Freeport Zone is merely the start. Clark proposes to be the catalyst for regional, if not national, economic development. Hence, CDC shall continue with its parallel development program which aims to upliftthe standards of business in the area.”