SECTIONS
Pampanga
Friday, June 25, 2021
PAMPANGA

CDC celebrates 28 years in service, cites gains

IN CELEBRATION of its 28th year anniversary, Clark Development Corporation (CDC) bared its various accomplishments for the year 2020, notwithstanding the challenges brought about by the Covid-19 pandemic.

In a report, CDC said the number of locators in the freeport remained at a total of 1,226 firms.

These companies, which are involved in various industries such as manufacturing, logistics, tourism, information-communication technology, and aviation-related businesses, persisted to provide employment and opportunities for 115,375 workers, despite the far-reaching effect of the pandemic.

By putting in place the standard safety and health protocols set by CDC and other government agencies, these firms were also able to initiate efforts to ensure business continuity and their workers' safety.

Meanwhile, the state-owned firm has also seen an upsurge in its investments, citing a total of P245 billion for the year 2020. This shows a 3.38 percent increase compared to the total investments in 2019 at P237 billion.

Aside from this, the Philippine Statistics Authority (PSA) in its report on approved foreign investments in the country mentioned that CDC posted the highest double-digit growth with 19.6 percent among other Investment Promotions Agencies (IPAs). This means Clark Freeport remains to be one of the most preferred business destinations in the Philippines and Asia Pacific Region.

For the year 2020, the state-owned corporation shared that it recorded an unaudited financial statement with revenue of P2.60 Billion. This signifies a considerable amount of gain despite posting an 11-percent decrease from its previous revenue of P2.93 billion in 2019.

CDC also remains optimistic for the year as it was able to maintain a strong cash position. The state-owned corporation posed an improved financial stance with a four percent increase compared to 2019. The overall cash level of CDC in 2020 at P5.19 billion was also seen as thirty times higher than that of 1996 at P173 million.

For its net income, CDC recorded a total of P0.84 billion. The total export value in the freeport was also reported at US$6.45 billion.

CDC has also conducted numerous outreach activities, programs, and projects for communities around the freeport as part of its response to mitigate the spread of Covid-19. Some of these efforts include the conversion of Clark establishments into quarantine facilities.

At the onset of the health crisis, the CDC with the support of the Bases Conversion and Development Authority (BCDA), transformed the Asean Convention Center into a Covid-facility, which has 150 beds.

The same transformation was done at the New Clark City (NCC) that has a total of 1,121 beds. NCC’s National Government Administrative Center (NGAC) and Athletes’ Village served as isolation areas for Covid-19 patients. Locally Stranded Individuals (LSIs) at the dawn of the pandemic were also given aid and free accommodations.

Apart from this, free transportation was also provided to CDC workers, and stakeholders through the provision of a transportation system called the "Clark Loop." This Bus Rapid Transport System features a convenient, and hassle-free commute for everyone going to and from the freeport. Standard health protocols were also being followed inside the vehicles.

Adjacent local government units (LGUs) similarly received assistance and donations from CDC to help in support of their Covid-19 responses.

CDC also acknowledged the efforts of its health personnel and individuals who are serving in the frontlines to fight the spread of Covid-19. Their dedication and commitment also gained them recognition from various government agencies including Commission on Audit (COA), Department of Health (DOH), and Department of Public Works and Highways (DPWH).

CDC said more developmental plans and strategies are in the pipeline to help everyone build up their strength after the pandemic.

With CDC’s new management under the leaderships of President and Chief Executive Officer Manuel Gaerlan and CDC Chairman Edgardo Pamintuan, along with the support of the CDC Board of Directors, the state-owned firm envisions to “Reset, Rebound, Recover” and continue to stir growth in the coming years not only in the freeport but also in the whole country.


VIEW COMMENTS
DISCLAIMER:

SunStar website welcomes friendly debate, but comments posted on this site do not necessarily reflect the views of the SunStar management and its affiliates. SunStar reserves the right to delete, reproduce or modify comments posted here without notice. Posts that are inappropriate will automatically be deleted.


Forum rules:

Do not use obscenity. Some words have been banned. Stick to the topic. Do not veer away from the discussion. Be coherent. Do not shout or use CAPITAL LETTERS!