Investments at the Clark Freeport Zone are expected to reach $3 billion by 2010, Clark Development Corp. (CDC) president Benigno N. Ricafort said.
In an interview, Ricafort said they are expanding the freeport because many locators have signified interest at locating in the former American military detachment in Pampanga.
In fact, he said they are developing a subzone with an area of 10,600 hectares, of which about one-fourth or 2,500 hectares has commercial value. The remaining area is steep and agricultural.
He said investments in the new subzone will mainly be tourism related companies and light industries.
Ricafort said the additional investment in the new subzone will generate employment not only for the people of Pampanga but also for people in surrounding provinces.
Earlier, Ricafort said the Peregrine Development International Inc. is investing $1.5 billion for a logistics hub in Clark.
“We are optimistic that this new project will intensify the interest of more foreign investors here,” he said.
According to Ricafort, the logistics hub will be built beside the international airport in Clark and will be operational by 2010.
Peregrine is a US based limited liability company based in Oklahoma. It focuses on advisory and consulting services, project and construction management and construction management.
It has extensive experience in US federal, state and local contracts. The Philippine branch will manage ongoing projects.
CDC assistant vice president for investment and promotions Bernardo Angeles, Jr. said P8 to 10 billion in fresh investments were expected last year, almost 70 percent more than the P5 to 6 billion worth of investments generated in 2007.”
“We also brought down the cost of power giving us the cheapest rates in Luzon,” Angeles said.
Total investments in the Clark Freeport and the Clark Special Economic Zone reached P30.51 billion in 2007, he said, adding that in 2006, locators infused some P3.5 billion in new capital.–Ma. Elisa P. Osorio, Philippine Star
May –
Anti-Graft and Corruption Awareness Month
“Corruption drains the nation
and victimizes workers who build the nation.
Accountability now!”
Invoke Article 33 of the ILO Constitution
against the military junta in Myanmar
to carry out the recommendations of the 2021 ILO Commission of Inquiry
against serious violations of protocols of
Forced Labour and Freedom of Association.
Accept the National Unity Government (NUG)
of Myanmar. Reject Military!
#WearMask #WashHands
#Report Corruption #SearchPosts #TakePicturesVideos
May 1 – Labor Day
May 2 – World Freedom Day
May 12 – World Communication Day
May 15 – International Day of Families
May 16 – International Day of Living
Together in Peace
May 21 – World Day for Cultural Diversity
for Dialogue and Development
Monthly Observances:
The Month of the Ocean
Anti-Graft and Corruption Awareness Month
Volunteerism Month
Weekly Observances:
Week 2: Safe Motherhood Week
Daily Observances:
May 1: Labor Day
May 7: Health Worker’s Day
May 31: National Fisherfolks Day
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