MANILA – All components of the proposed Pax Silica project in New Clark City in the province of Tarlac are compliant with both Philippine and international laws, the head of the Bases Conversion and Development Authority (BCDA) said on Thursday.
The US-led project aims to establish within a 1,600-hectare area in the northern part of New Clark City a hub that will provide a global supply chain for artificial intelligence (AI), semiconductors and rare earth minerals.
During a briefing in Malacañang, BCDA president and chief executive officer Joshua Bingcang said more than 30 countries have already signified interest in joining the US-led project, and officials of these countries are reviewing the project's intricacies, including relevant laws and its requirements.
“At nakikita rin natin dito, dahil sa inisyatibo po ito ng national government, ng ating Pangulo, ito po ay magbibigay ngayon ng framework, ng stability and predictability para sa ating mga mamumuhunan kasi bubuuin natin ito na magiging compliant ito sa lahat ng mga regulation, international laws at maging iyong tinatawag po nating mga ESG [environmental, social, and governance] goals (And we can see that because of the initiative of the national government, of the President, this will give the framework, stability and predictability to the investors because we will build it to make sure it’s compliant to all the regulation, national laws, and even the what we call ESG goals),” he said.
He clarified that around 40 percent of the designated manufacturing area will be open spaces to ensure a balanced environment for the workers and the manufacturing site as well.
The project is seen to boost the labor sector, creating around 130,000 to 190,000 jobs for locals.
Bingcang said that while the high-tech firms that will put up facilities in the area will have foreign workers, they are expected to account for around 10 percent of the total workers, primarily those in higher positions.
This, he said, will bolster opportunities for Filipinos, who will have greater opportunities to work in the country instead of going abroad.
“Ang layunin natin, dahil alam po natin napakadaming talentong magagaling dito sa ating bansa, ay maging brain gain tayo ngayon imbes na brain drain (Our goal, since we know that we have a lot of talented workers, is to have brain gain instead of brain drain),” he said.
Bingcang said feasibility studies on the project as a whole and some of the proposed investments such as power generation facilities are ongoing.
Citing the normal timeline for development contracts that BCDA enters into, the BCDA chief said initial discussions are already ongoing while studies on the stability of the area for natural disasters such as earthquakes and flooding are expected to be conducted next year, for around a year.
Site development is projected to start within the first two years of signing the agreement, with the latter expected this year.
“Bale ang mangyari po, this year is the contract negotiation, next year is the planning stage, and then by 2028, puwede na po tayong mag-construct po (Based on the plan, this year is the contract negotiation, next year is the planning state, and then by 2028, we can start construction),” he said.
The project is seen to boost the Philippines’ electronics sector and exports to around USD40 to USD70 billion, which is already around 10 percent of the domestic economy’s annual output. (PNA)
