By Julito G. Rada | Posted on Nov. 29,
2012 at 12:01am | 86 views
[ manilastandardtoday.com ]
Bases Conversion and Development
Authority president Arnel Paciano Casanova said Wednesday the Clark Green City
project will boost economic growth in Central Luzon.
Casanova said the project, spanning an
area 100 times that of Bonifacio Global City and half the size of the entire
Metro Manila, would “drive all the economic activities and investments in the
area.”
He said with Clark as a special
economic zone, foreigners could lease the land in Clark Green City for 50 years
under the Foreign Investors Lease Act.
Casanova stressed the importance of
building the Clark Green City as one of the focal points of this year’s
international convention on free ports and special economic zones in London
next month.
Casanova was invited to speak on the
Clark project, which is currently masterplanned for implementation next year.
“I
welcome this opportunity to showcase to the global investment community
the new
exciting developments taking place in the country and for these
investors to consider
the Philippines as
their next major investment
haven,” Casanova said.
He said the President Benigno Aquino had paved
the way for the country’s sound economic fundamentals and
for foreign investors
to take a keen interest in the
country.
Casanova accepted the invitation by
2012 World Free Zone Convention chairman Graham Mather to be
among the speakers of the convention dubbed “Free
and Special Economic Zones:
Delivering Economic Growth and
Societal Advance.”
The event will
have special emphasis on public-private partnership and investment in
infrastructure.
The Clark Green City has an estimated
implementation cost of $5 billion over a 20-year period. The entire 36,000-hectare area is now being
masterplanned.
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