Clark freeport attracts P22.9B in investments

State-run Clark Development Corp. signed last year agreements for 207 lease and sublease projects worth P22.9 billion that are expected to boost further the development of the freeport zone into one of the most complete investment destinations in Asia.

CDC president Felipe Antonio B. Remollo said the projects could generate 8,200 jobs as soon as they begin operations within the year. This figure is seen to increase should the proposed expansion programs of the locators push through for 2012.

According to Remollo, the bulk of the new jobs to be generated in 2012 would come from some of the biggest committed investments signed last year, led by Korea’s Hae O Rum Development Corp., which has committed P1.5 billion for its tourism-related projects. The company plans to put up a hotel, dormitory, business center, specialty restaurant and international school within Clark.

Also expected to boost employment opportunities would be Haitima Clark Corp., which has committed more than P1 billion for the establishment of a manufacturing plant for all kinds of valves, flanges, pipes, fittings and accessories for export to Asia, Europe and North America; and Spectrum Blue Steel-San Fernando Corp., which has committed to invest P868.4 million.

The expansion programs of Yokohama Tire Phils. Inc., Dongwang Clark Corp. and several business process outsourcing (BPO) firms in Clark were also expected to generate a number of workers should they start expanding their operations in 2012, Remollo added.

As of December 2011, Clark has logged 64,055 workers, up 6 percent from the previous year’s employment figure of 60,612.