Subic, Clark post hike in investments

By Macon Ramos-Araneta
Manila Standard Today

THE development of two former American bases in the Philippines have gone beyond the boundaries of the economic zones that were put up at Subic Bay in Zambales and Clark Field in Pampanga, a congressman said over the weekend.

Quezon Rep. Danilo Suarez, the chairman of the House oversight committee, said investments in Subic has reached P171 billion while Clark posted total investments of P83 billion, pushing up revenue collections from the two areas.

The establishment of the Clark-Subic-Kaoshiung economic corridor late last year also boosted investments and revenues from these ecozones, Suarez said, citing the creation of the Subic-Clark Alliance for Development to spur the growth of the corridor comprising the ecozones and portion of municipalities that lie between them.

SCAD’s primary project—the Subic-Clark-Tarlac Expressway— has moved considerably forward, he said.

As of May 2006, 30 percent of the target works for the project has been accomplished, ahead of schedule.

The solon also disclosed the construction of the Subic Container Port Terminal and of the shipbuilding facility are underway.

At the same time, he noted that the flights to and from the Diosdado Macapagal International Airport in Clark have also increased.

“DMIA has achieved its target of operating 63 international flights weekly. It now expects to raise this number to 70 by the end of 2006,” Suarez said.

To ensure further development at the former American bases, Suarez said the growth of the corridor must be sustained.

“Government must encourage increased inflow of direct foreign investments through accelerated spending on adequate infrastructure facilities,” he said.

Specifically, it should be able to solve with dispatch the tax incentives issue in Clark following the Supreme Court decision which nullified the tax incentives and privileges enjoyed by investors in Clark and other former US military facilities in the country.

Meantime, the construction and upgrading of airports and the roll-on, roll-off port facilities have proceeded as planned.

Although currenly marred by delays, Suarez assured that most of these projects will be completed as scheduled.

Except for the road component of the Roro port project, the nautical highway system has become fully operational and its three clusters are being served by Roro vessels.

The government has also established credit facilities for use in vessel acquisition and upgrading to augment and complement the current fleet plying various routes in the nautical highway system.