Accelerating growth in the regions

The new year ushered in exciting news for the local tourism and hospitality industry, with the announcement of the landmark investment by business leader and philanthropist Manuel V. Pangilinan (MVP) in Baguio’s iconic destination Camp John Hay.

This development not only promises to enhance the property’s potential but also marks a meaningful step toward further accelerating the region’s overall growth.

Reports said that the MVP-led Landco Pacific Corp., a subsidiary of Metro Pacific Investments Corp., will oversee the interim management of Camp John Hay legacy hotels, facilitating a smooth transition as the property partners with a new private operator.

Landco Pacific, with a strong track record spanning several decades, is renowned for creating world-class leisure communities and luxury residences in the Philippines. Its notable developments include Peninsula de Punta Fuego, CaSoB? (Calatagan South Beach) and Club Laiya.

In a statement, MVP assured the public that they need not worry about the ensuing development in Camp John Hay since legacy properties will remain “protected and enhanced as cornerstones of Baguio history and tourism.” These include The Manor, The Forest Lodge at Camp John Hay and the CAP-John Hay Trade and Cultural Center.

BCDA described the MVP Group’s involvement as a welcome development, highlighting the growing investor confidence in Camp John Hay. To date, the BCDA has secured at least two commercial lease agreements following its initial long-term residential lease agreement with the MVP Group. The agency is optimistic that further interest from potential investors will follow suit.

Beyond boosting the tourism potential of Camp John Hay, the MVP Group’s involvement in its development is expected to yield long-term, far-reaching economic benefits. These advantages are expected to ripple beyond Baguio, driving positive growth across the entire Cordillera region and contributing to the broader economic development of the nation.

MVP’s latest venture into Camp John Hay serves as a strong testament to the investment potential outside Metro Manila. This aligns perfectly with the country’s shifting economic landscape aimed to promote decentralization of business activity and boost opportunities outside of the Philippine capital.

For years, Metro Manila has been the center and driver of economic activity- securing the lion’s share of foreign investments, infrastructure development and job opportunities. However, the time has come to expand our horizons and explore new possibilities beyond what we have known.

We are now at a pivotal point to highlight and promote business opportunities in the regions to achieve more equitable economic development across the country and empower regions and provinces to become more active contributors to national economic growth.

In the case of Camp John Hay, development is expected in terms of infrastructure and amenities for visitors but more importantly, this will create new job opportunities for residents of Baguio and surrounding areas who would otherwise need to find gainful employment in Metro Manila.

There is also expected to have a significant ripple effect on local businesses. As Camp John Hay develops into a more attractive tourist and investment destination, small businesses like local restaurants and commercial stores in Baguio and surrounding areas stand to benefit from the increased foot traffic and consumer spending.

With Camp John Hay’s positioning as a premier eco-tourism destination and the MVP Group’s strong commitment to sustainability, the development of the area can also serve as a model for other developments outside of Metro Manila to ensure balance and harmony between economic growth and environmental responsibility.

This renewed interest and optimism for Camp John Hay’s revival is a strong reminder of the need for further collaboration among investors and business leaders in promoting equitable economic development across the regions. This will help unlock the potential of untapped resources and ensure inclusive growth for all Filipinos.

Aside from immediate economic benefits, regional development will strengthen the entire country in the long run as it will help make the economy more resilient by reducing national dependence on Metro Manila’s business activities.

By accelerating investments in the regions and paving the way for the entry of more businesses into the provinces, our country can adopt a more inclusive development strategy that inspires investor confidence, consequently benefiting future generations.