CITY OF SAN FERNANDO, Pampanga (PIA) — Business groups in the province of Pampanga have expressed support to the proposed amendments in the charter of the Bases Conversion and Development Authority (BCDA).
In particular, the business sector said the proposal to convert a portion of the BCDA’s economic zones from leasehold to freehold will further drive inclusive socioeconomic development in the region.
Pampanga Chamber of Commerce and Industry Inc. President Teresa David-Carlos said the measure is expected to stimulate growth in the housing sector and provide opportunities for property ownership that will benefit not only people inside Clark, but also other cities and municipalities in Pampanga and Central Luzon.
“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,” she stressed.
For her part, Metro Angeles Chamber of Commerce and Industry President Elizabeth Carlos-Timbol also supported the allocation of areas for residential and mixed-use developments, as this would pave the way for long-term partnerships between the public and private sector for the provision of affordable housing to Filipinos.
This, she said, will eventually help decongest Metro Manila and bring sustainable growth in other economic zones.
Clark Investors and Locators Association President Francisco Villanueva Jr. stressed the importance of inclusivity, adding that the proposal will enhance Clark’s attractiveness as an investment destination, and spur sustainable and inclusive development in the ecozone.
“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,” he said.
Aside from this, the business groups also espoused the extension of BCDA’s term for another 50 years, citing this is a way to boost investor confidence.
Carlos said this would create a stable environment for long-term investments, and ensure 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 said.
Timbol, for her part, said the proposal would ensure continued interest from investors and sustain efforts for the economic and social transformation in the country, alleviating more Filipinos from poverty.
These provisions are encapsulated in House Bill 8505 and Senate Bill 2647, which both seek to amend Republic Act 7227 or the Bases Conversion Act of 1992. (CLJD/MJSC, PIA Region 3-Pampanga)
