Wednesday, August 04, 2021

Clark posts P245-B investments in 2020

CLARK Development Corporation (CDC) has recorded a P245 billion total investments in 2020, a 3.38 percent increase compared to total investments of P237 billion in 2019.

Data from the Philippine Statistics Authority (PSA) also showed that this Freeport posted the highest double-digit growth on the approved foreign investments in the Philippines for the year 2020.

Among other Investment Promotions Agencies (IPAs) in the country, CDC registered a 19.6 percent increase on approved foreign investments, followed by Cagayan Economic Zone Authority (Ceza) with 16.9 percent and Philippine Economic Zone Authority (Peza) with 10.1 percent.

Aside from this, top local investors are also turning to Clark to create more opportunities. SM Prime Holdings Inc. recently signed an agreement with CDC for the establishment of a P3.2 billion intermodal transport terminal and office tower in Clark Freeport. The development of these facilities will generate a total of 2,800 employment opportunities for job seekers.

Meanwhile, CDC President and Chief Executive Officer Manuel Gaerlan said the number of locators in Clark Freeport remains at 1,226 firms, sustaining the jobs of 115,375 workers.

Despite a 15 percent decrease in employment compared to data from 2019, CDC is confident that this will improve in the coming months as new investments and opportunities emerge in Clark.

Gaerlan also mentioned that in terms of the rentals, the majority of locator firms in Clark have settled their arrears during the government-imposed lockdown from March to June 2020. As a show of support and concern for its locators, CDC has eased up its collection (spread over 12 months) for those who were hardly affected during the pandemic.

To assist the economy in recovering from the health crisis, the state-owned corporation has also laid out its plans for the freeport. These include the aggressive promotion of local tourism through the reopening of parks and other tourist attractions in Clark, and imposition of stringent safety and health protocols for guests and visitors.

CDC also targets to vaccinate all workers and residents in the freeport.

Preparations and coordination with DOH in Central Luzon and Metro Clark local government units are also underway to facilitate the Clark Covid-19 vaccination program in Clark Freeport.

According to Gaerlan, they are hoping that the vaccines will arrive at the soonest possible time to hasten the vaccination roll out in the freeport.

He also thanked the Clark locators and stakeholders for their continuous support and for remaining unfazed by the challenging times.

CDC vows to keep Clark as a premier destination for investment and tourism.

And as a nucleus of development in the country, the state-owned corporation similarly strives to strengthen the ease of doing business in the freeport, promote a secured and comfortable quality of life for people, and complement the various infrastructure projects that will usher in more opportunities for everyone in the future.


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