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.