Region 3 biz groups back BCDA charter revisions
-Art Dumlao- — September 22, 2024
BAGUIO CITY (September 22, 2024) -- Business groups based in Central Luzon region welcomed the Bases Conversion and Development Authority’s (BCDA) proposed amendments to Republic Act 7227, citing amendments introduced could create more inclusive communities and in spurring economic growth in Region 3 and even in the country.
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), have delivered their messages of support for the proposed amendments, as encapsulated in House Bill 8505 and Senate Bill 2647, said the BCDA.
“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 3, but will also contribute to a more prosperous and inclusive Philippines,” PAMCHAM President Teresa David-Carlos had said.
While Aileen Uy-Chan, president of PCCI-Tarlac also believed, the proposed amendments would encourage more private businesses to invest in the country, and drive opportunities for growth throughout all sectors of the economy.
“This will surely open a lot of partnerships in investments and shared development, with a domino effect of economic opportunities for many sectors of surrounding territories. We would like to see this happen, especially for Central Luzon, and we look forward to seeing these opportunities open to all—from corporations to MSMEs (micro, small, and medium enterprises), employees to professionals, foreigners, and locals alike,” she cited.
While PBDCC president Ronald Malicdem stressed, “these amendments will help BCDA towards economic growth, which includes the extension of BCDA’s term for another 50 years. Highlight of these amendments is the housing and economic opportunity, which is consistent with the priority projects and plans of the government.”
The business groups, in particular, supported the proposal to convert a portion of BCDA’s economic zones from leasehold to freehold in order to provide inclusive socioeconomic development in Central Luzon.
David-Carlos said this measure is expected to stimulate growth in the housing sector, providing opportunities for property ownership that will benefit not only people inside Clark, but also other cities and municipalities in Pampanga and Central Luzon.
While Dr. Francisco Villanueva Jr., President of CILA, also said proposals to amend the BCDA law would enhance Clark’s attractiveness as an investment destination, and spur sustainable and inclusive development in the ecozone.
“Inclusivity is really needed. If you take a look, the Philippines has been growing at six percent on the average for the past several years and yet a lot of people are saying that what we have is a case of non-inclusive growth. This would partially address that issue. Now people who are working here don't have to commute and travel far. They can afford to get housing here in the future,” Dr. Villanueva said.
MACCI President Elizabeth Carlos-Timbol also supported 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 sector for the provision of affordable housing to Filipinos. This would, she said, eventually help decongest Metro Manila and bring sustainable growth in other economic zones.
“Another 50 years for BCDA”
Business groups also supported the proposal to extend the corporate life of the BCDA by another 50 years.
David-Carlos said this would create a stable environment for long-term investments, ensuring economic resiliency and continuity. “This stability is crucial in attracting and retaining significant investments, particularly in New Clark City which is set to become a beacon of development and innovation. Increased investments in New Clark City will catalyze economic activities, create jobs, and drive regional goals.”
Carlos-Timbol believed such extension of BCDA’s life would ensure continued interest from investors and sustain efforts for the economic and social transformation in the country, alleviating more Filipinos from poverty.
