By Louella D.
Desiderio (The Philippine Star) | Updated August 7, 2013 - 12:00am
MANILA,
Philippines - The National Economic and Development Authority (NEDA) has
approved the Clark Green City Master Development Plan which is expected to
allow the Clark Freeport and Special Economic Zone to become a more attractive
location for investments.
In a
statement yesterday, Bases Conversion and Development Authority (BCDA)
president and chief executive officer Arnel Paciano Casanova said the NEDA
Board Committee on Infrastructure has given its seal of approval for the
development of some 36,000 hectares in the Clark Freeport and Special Economic
Zone into a new city half the size of Metro Manila.
He also said
the infrastructure committee has agreed to endorse the development plan to
President Aquino for final approval.
“We are very
pleased that NEDA Infracom has approved our plans for Clark Green City, and
hope that President Aquino will approve the project. This [project] promises to
be one of the most important destinations not just in Central Luzon, but the
country as a whole, for local and international residents, locators and
investors,” he added.
Once Aquino
approves the Clark Green City Master Development Plan, BCDA could start the
disposition and development of the property by next year.
The
development of the Clark Green City is expected to lead to more investments in
the area as well as generating more jobs.
Once at full
development, Clark Green City is expected to generate approximately P1.57
trillion per year to the economy of the country.
Some 925,000
jobs are likewise expected to be created.
Apart from
promoting Clark as an investment destination, the project would involve the
adoption of a Green building system that would encourage certain practices and
techniques as well as the use of renewable energy in all buildings and
facilities in the area.
Casanova said
the development of the area would be undertaken as a Public Private Partnership
project, with the bulk of the estimated P59 billion to be used for the first
five years to be shouldered by the private sector.
Through the
project, he said the government wants to showcase what the country could offer
in terms of urban planning and sustainable development.
“With the
trend in building sustainable and modern cities in major countries across the
world, through Clark Green City, we will be able to show our neighbors that the
Philippines can likewise make a huge step in modern, sustainable development, “
he said.
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