Clark Development: GMA realized SONA pledges

CLARK FREEPORT, Pampanga , Philippines   – President Arroyo’s commitments made during her past state-of-the-nation addresses particularly in 2007, have almost been fully fulfilled in this freeport and neaby provinces.

Clark Development Corp. (CDC) President Benigno Ricafort noted that in her SONA in 2007, the President cited her administration’s projects for the “super regions” composed of Mindanao, Central Philippines , North Luzon Agribusiness Quadrangle, Luzon Urban Beltway and the Cyber Corridor in a bid to “spread development away from an inequitable concentration in Metro Manila.”

Ricafort said the completion of the Subic-Clark-Tarlac Expressway (SCTEx) is a “concrete proof” of the President’s determination to synergize Clark and Subic Freeports, “whose ‘spillover effect’ would complement the local economies of surrounding communities.”

He added that the opening of the SCTEx last year has created a huge impact on Clark, particularly on investments, export and employment performances in this freeport.

Ricafort cited $949 million worth of exports last year and the entry of some P68.63 billion worth of investments.

 “Employment also soared in December 2008 with an unprecedented 57,790 Clark workforce. In addition, taxes and duties contributed by Clark locators to the government amounted to almost P2 billion,” he also said. He said the new projects here include the $1.5-billion investment from Texas Instruments, $100 million from Kuwait Gulf Link (KGL) company for its logistics park, and the $10 million for Singapore Airlines Engineering Co. and Cebu Pacific’s Maintenance, Repair, and Overhaul (MRO) facility.