MANILA, Philippines – Investments in the Clark Freeport Zone have reached $200 million as of end-July, the Clark Development Corp. (CDC) said.

CDC president Arthur Tugade said in a statement posted on the state-run firm's website that the investments were made for new and expansion projects in the freeport.

For the April to July period, Tugade said that the CDC secured $31.42 million worth of investment commitments for eight major projects.

The eight major projects involve groundbreaking and expansion work from the following Clark-based locators: Aderans, Inc., Pishon Corp., L&T International Group, MSK Corp., Preferred and Proven Therapies, Inc., Wind Tunnel International, Mt. Carmel Medical Center, and Stotsenberg Medical Center, Inc. The eight projects are expected to create 8,928 jobs.

Tugade also said that since December of last year, the CDC was able to revive projects from seven Clark-based locators.

The CDC expects the seven firms to pour in $175.14 million worth of investments for the projects.

The revived projects include development of an international sports complex, hotels, resorts, wakeboarding and water theme parks, retirement estates, language institute, and an air separation plant facility.

The projects are seen to employ 5,172 workers.

At present, Clark's total employment tally is at 71,713. Earlier, the Bases Conversion and Development Authority said the National Economic and Development Authority's Board Committee on Infrastructure has agreed to endorse the Clark Green City Master Development Plan to President Aquino.

The Clark Green City Master Development Plan involves developing 36,000 hectares in the Clark Freeport and Special Economic Zone into a new city half the size of Metro Manila to become a more attractive location for investments.

Apart from promoting Clark as an investment destination, the project would involve the adoption of a "Green" building system that would encourage certain practices and techniques as well as the use of renewable energy in all buildings and facilities in the area.

By Louella D. Desiderio (The Philippine Star)

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