More locators operating within Camp John Hay in Baguio are signing lease agreements with the state-run Bases Conversion and Development Authority, a move deemed to affirm that the previous developer no longer has authority over the special economic zone.
“The firms have recognized that Camp John Hay Development Corporation (CJHDevCo) has been divested of its authority to manage and administer the John Hay Special Economic Zone and want to merely protect their investments, thereby preferring to do business directly with BCDA,” said BCDA president and CEO Arnel Paciano D. Casanova.
“We are taking control of the Camp and the businesses are voluntarily signing up with BCDA. This affirms that the Sobrepeña-led CJHDevCo has no more authority to do business inside the John Hay Special Economic Zone,” he said in a statement.
One of the companies that recently signed an agreement with BCDA was Inbound Pacific, Inc. (IPI), which operates the Mile-Hi Center and Cantinetta.
The company recently signed two lease agreements with the BCDA for a total contract price of P60.52 million.
Inbound Pacific’s first contract involves the lease of the 6,275-square meter Mile-Hi Center comprised of retail and restaurant facilities, while the second contract involves the lease of the 261-square meter Cantinetta Restaurant and Café, also within the JHSEZ.
“We welcome Inbound Pacific Inc. and we look forward to working with them toward the development of the John Hay Special Economic Zone into a wholesome family-oriented tourism complex,” Casanova said.
The BCDA chief added that the new lease contracts mark the start of a “new and favorable” business environment in the zone.
He added that other firms had expressed their interest to sign and invest with the BCDA as well.
“The business locators now recognize BCDA’s authority over John Hay after the lease agreement of CJHDevCo has been rescinded by virtue of the Final Award rendered in the arbitration under the Philippine Dispute Resolution Center, Inc. (PDRCI). The Final Award was also confirmed by Branch 6 of the Regional Trial Court (RTC) of Baguio,” he added.
In a statement issued Sunday, Casanova reiterated that CJHDevCo no longer has authority over the John Hay Special Economic Zone, adding that it was operating without legal basis. Amy R. Remo