FIVE major business groups in Central Luzon are supporting proposals to amend the charter of the Bases Conversion and Development Authority (BCDA).
The revisions to Republic Act 7227 that created the BCDA in 1992 will help boost economic growth in the region and the country, said the business groups, which include the Pampanga Chamber of Commerce and Industry Inc. (Pamcham), Clark Investors and Locators Association (CILA), Philippine Chamber of Commerce and Industry-Tarlac (PCCI-Tarlac), Metro Angeles Chamber of Commerce and Industry (MACCI), and the Pampanga Business Development Coordinating Council (PBDCC).
“These amendments will not only enhance the economic landscape of Pampanga and Region 3, but will also contribute to a more prosperous and inclusive Philippines,” Pamcham president Teresa David-Carlos said.
The groups particularly backed the proposal to convert a portion of BCDA’s economic zones from leasehold (owning the property for a set period but not the land) to freehold (owning both the property and the land). David-Carlos explained this measure could increase investments in the housing sector by providing opportunities for property ownership in Clark, as well as other cities and municipalities in Pampanga and Central Luzon.
CILA president Dr. Francisco Villanueva Jr. added the proposal could enhance Clark’s viability as an investment destination, and spur sustainable and inclusive development in the ecozone.
While acknowledging the Philippine economy has been growing at six percent on average for the past several years, Villanueva also pointed out the observation that it has been a non-inclusive growth. “This (proposal) would partially address that issue. [It means] people working here don’t have to commute and travel far. They can afford to get housing here in the future,” Villanueva said.
MACCI president Elizabeth Carlos-Timbol said the allocation of areas for residential and mixed-use developments, saying this would pave the way for long-term partnerships between the public and private sectors for the provision of affordable housing to Filipinos. This would, in effect, help decongest Metro Manila and bring sustainable growth to other economic zones, she explained.
The business groups likewise backed the proposal to extend BCDA’s corporate life by another 50 years to foster long-term investments.
“Increased investments in New Clark City will catalyze economic activities, create jobs, and drive regional goals,” David-Carlos said.
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