Clark one of Asia's top economic centers

CLARK FREEPORT – Posting unprecedented gains in investments, revenues, employment and other significant achievements for year 2017, this Freeport continues to be one of Asia's leading economic centers.

In his report to the Clark Development Corporation (CDC) Board of Directors, CDC President/ CEO Noel F. Manankil said that the accomplishments in Clark Freeport for the past year are aimed at helping bring about a robust economic impact to the local communities, Central Luzon region, and the country.

Manankil has attributed Clark's gains to the sound business climate of the Duterte administration. He also thanked Clark locators, workers, and other stakeholders, including support given by contiguous communities and Bases Conversion and Development Authority (BCDA), parent company of CDC.

In his report, Manankil cited that the number of locator-firms at the close of 2017 now total to 949, a six percent increase from year-ago level at 895. Most of the locator-firms are in the ICT, Service, and Developers industry at 362, representing 38 percent of the total number.

The report also show that for the same period, the number of employee inside the Freeport has reached 107,997, an increase by more than 14,227 from a year-ago level.

The industrial and manufacturing industry has the most number of employees at 48,476 or 45 percent in the distribution.

Accordingly, Manankil cited that the state-owned firm attained a gross revenue of P1.96 billion for the year 2017, a 20 percent growth compared to 2016 figure of P1.64 billion. This resulted to an unprecedented net income of P1.03 Billion or a 32 percent jump from 2016 performance of P738-million.

It marks the first time that CDC hit a billion net income thru the efforts of its Board of Directors, Management and employees and specially the locators.

The value of export inside this Freeport also posted high growth rate of 35 percent a total of $6.874 billion compared to US$5.089 in 2016.

As a commitment to the community, CDC conducted several projects and programs to improve lives of local residents in and around Clark. Livelihood, health and education programs benefited 40,500 individuals.

In the same way, 465 job seekers were hired on the spot during CDC jobs fair.

Aside from being an investment hub, Clark has also poised itself to boost tourism aspect. Last year, 93 events were organized while a 1.142M number of arrivals of foreign and local tourists were recorded in the arrivals report.

The BOD, chaired by former Transportation Secretary Jose “Ping” De Jesus, has commended Manankil, CDC executives and employees for another banner year of the state-owned firm. (PR)
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