Saturday, March 03, 2007 Clark investments encouraging: exec
CLARK ECOZONE -- Clark Development Corporation (CDC) president Levy Laus said the horizon over the soon-to-be-established Clark Freeport looms with positive prospects, as the number of signed direct lease contracts rose to 40 in 2006 compared to 33 in 2005.
During the regular meeting of the Metro Clark Advisory Council (Mcac), Laus said the figures show that more foreign and local investors are considering Clark as their viable business destination because of its strategic location and the presence of an international airport within the zone.
Despite the apprehensions of Clark investors over the Supreme Court (SC) decision in 2005 to remove tax incentives and duty free privileges, committed investments for 2006 totaled to P5.1 billion as against the P1.6 billion in 2005.
With the investment figure, Laus said they have "5,360 committed employment in 2006 from 4,617 in 2005."
Mcac is a consultative and advisory body that helps formulate plans, programs and projects for Clark and the local communities. It is composed of Mayors Marino Morales of Mabalacat, Florante Cojuangco of Bamban, Reynaldo Catacutan of Capas, Exequiel Gamboa of Porac, Luis Espino of Arayat, Teddy Tumang of Mexico, Noel Villanueva of Concepcion, Rodrigo Canlas of San Simon, Pastor Guiao of Magalang, Romeo Dungca of Bacolor, and Carmelo Lazatin of Angeles City.
The committed monthly revenue also increased by 66 percent from US$67,354 in 2005 to US$111,916, Laus added.
Laus told Mcac, also co-chaired by Morales, that as of December 2006, there are 389 active locators in Clark, with 121 industrial firms, 101 service-oriented, 42 warehousing, 30 IT-related, 28 aviation, 10 commercial, and five agro-industrial while there also 52 other firms with various nature.
The projects total committed investments of P22.3 billion for the first year and P84.40 billion within the next five years, he said.
He said there are 61 sublease agreements signed last year from 58 in the previous year. (DMF)
