CDC: A model for development

At Close Range

CLARK Development Corporation (CDC), a government-owned and controlled firm, established in 1993, merited a space in the national broadsheet, the Philippine Star. In an article written by Louella Desiderio titled "Clark targets 58% profit growth in 5 years" and dated February 3, 2020, she summarized the growth potential of CDC as remarkable and worth emulating by other GOCCs and corporate entities. The steady growth of revenues of CDC, which contributes a substantial amount to the national coffers is a concrete example of no-nonsense brand of management, leadership and teamwork. Under the inclusive and steady leadership of its President and CEO Noel F. Manankil, CDC climbed to an enviable position among government firms. Its net income for the three-year period, 2016-2018 registered P3.17 billion, on gross revenues reaching P6.08 billion over the same period. As I've written earlier, CDC and its freeport are investor-friendly and no major complaint has been submitted by its almost 1,167 businesses and 135,503 workers in the entire Clark Freeport Zone. According to its Trade Facilitation Division, exports in 2019 surged to an all-time high of $6.85 billion compared to the total export volume in 2018 of $4.68 billion For the past five years, the average annual growth rate of exports in the Freeport is estimated at 11.54 percent.


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