[ Manila Bulletin Online ] November 23, 2008
By FRED M. ROXAS
CLARK FREEPORT, Pampanga – The $ 1 billion investment of the world’s biggest semi-conductor firm in this freeport is not affected by the economic slowdown in the United States, officials said.
Clark Development Corp. President and CEO Benigno N. Ricafort said electronics giant Texas Instruments (TI) will continue its investment in the freeport, where it is projected to generate some 6,000 jobs when it starts full operations next year.
Ricafort told the recent general membership meeting of the Philippine Constitution Association (Philconsa) at the Manila Hotel that phase one of the construction of Texas Instrument’s multi-billion peso facility here is nearing completion.
Ricafort, who was Philconsa’s guest of honor and speaker, said TI is pushing through its investment despite the economic crunch in the US.
Other new firms that are reportedly locating in Clark are KGL which is investing $ 100 million, and SEIA and Cebu Pacific which are investing $ 10 million.
The CDC president highlighted Article 12 of the Philippine Constitution on National Economy and Patrimony where the socio-economic mandate of Clark Development Corporation is anchored, citing CDC’s major role in "generating and preserving jobs of thousands of people".
He said the immediate challenge for CDC now is the development of the Sacobia area or sub-zone that he dubbed as "The Next Frontier" for Clark. It will initially cover 10,684 hectares, with the master development plan to be completed soon.
"There is limited land available, only about 300 hectares, in the Main Zone," he said.
There are 781 investors in Clark at present. Of this, 55 investment projects were signed from January to October this year and brought fresh investments with a projected commitment of P14 billion over the next five years.
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