CLARK FREEPORT -- The newly-chosen top two executives of the Clark Investors and Locators Association (CILA) have bared a new plan to make the organization more significant for investors.
CILA Chairman Irineo "Bong" Alvaro and President Frank Villanueva said this during a meeting with members of the Capampangan in Media, Inc. (CAMI) at the Bale-Balita here last Friday.
"I'll use the word FAST to describe it, "Alvaro said.
Alvaro said that "fast" stands for foreign investment, advocacy, safe and technology-driven.
"Through this program, we aim to lure foreign investors to Clark and make it the safest and a highly-technology-driven area," he said.
There are about 900 investors in the former American military base but only 200 of them are CILA members. Of the 200, five of them are the major earners for Clark, representing around 95 percent of the total output of all the investors.
Villanueva said membership in CILA is not compulsory unlike in other countries. He said the country's Constitution also prohibits compulsory membership in the chamber.
Each member company is required to pay P7,000 fee.
Villanueva said the five major contributors were evaluated on the basis of exports, investments and employment.
Alvaro noted that Clark is a strategic investment destination in the Asia because of its location in the region.
He, however, bewailed the slow internet inside the Freeport that is hampering business efficiency.
He said the organization is studying the possible adverse effects of the new tax reform law or TRAIN on the investors.
"The new law could cancel out some of incentives and privileges previously given to the investors," he said.
Alvaro is the president of the Midori Hotel and Aqua Planet which is holding its grand opening on February 24 this year. (NCS/SunStar Pampanga)