Conversion of ecozones' parts to drive dev't in CL

Local News Official
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CITY OF SAN FERNANDO --- Three business groups in Pampanga welcomed the proposal to convert a portion of the Bases Conversion and Development Authority's (BCDA) economic zones from leasehold to freehold.

The Pampanga Chamber of Commerce and Industry, Inc. (PamCham), Metro Angeles Chamber of Commerce and Industry, Inc. (MACCII), and Clark Investors and Locators Association (CILA), said this move will drive inclusive socioeconomic development in Central Luzon.

The business groups, at the same time, vowed to support the proposed amendments in the charter of the BCDA, where the conversion proposal is contained.

“Supporting the proposed amendments means endorsing a future where increased investments flow into our country fostering inclusivity for all Filipinos. These amendments will not only enhance the economic landscape of Pampanga and Region III, but will also contribute to a more prosperous and inclusive Philippines,” said PamCham President Teresa David-Carlos.

The measure is expected to stimulate growth in the housing sector and provide opportunities for property ownership that will benefit the people inside Clark, and other cities and towns in Pampanga and Central Luzon, she added.

MACCII President Elizabeth Carlos-Timbol, for her part, said the allocation of areas for residential and mixed-use developments would pave the way for long-term partnerships between the public and private sector for the provision of affordable housing to Filipinos.

CILA President Francisco Villanueva, Jr. said the proposal will enhance Clark’s attractiveness as an investment destination.

It is also expected to spur sustainable and inclusive development in the ecozone, he added.

The business groups expressed support for the extension of BCDA’s term for another 50 years as it will boost investor confidence, create a stable environment for long-term investments, and ensure economic resiliency and continuity.

The proposed amendments and provisions are contained in House Bill 8505 and Senate Bill 2647, which both seek to amend Republic Act 7227 or the Bases Conversion Act of 1992.

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