CLARK FREEPORT – The Clark Development Corporation (CDC) has signed 71 lease agreements with investment commitment of $1.02 billion in 2016.
These projects, which will be implemented and completed within the next 10 years, bring the number of locators in the Freeport to some 895.
CDC President and Chief Executive Officer Noel F. Manankil said the uptrend in investments is a result of the unperturbed confidence of foreign and local investors to the Philippines and this Freeport.
The firms engaged in commercial businesses represent 32 percent of the total number enterprises inside the Freeport.
ICT firms represent 24 percent of the locators while 23 percent are in the service sector.
The steady increase of locators started in 2009 where CDC recorded 449 locators. The figure increase by 464 in 2010, 537 in 2011, 606 in 2012, 679 in 2013, and 750 in 2014.
Some $923 million was committed by new investors with direct lease agreements with CDC. Subleases and those with Memorandum of Agreement have committed investment of $97 million.
In 2015, signed direct leases committed $303 million while the subleases and MOA have only committed investment of $50 million or a total of $353 million.