New Clark City to boost PH economy
NEW Clark City in Pampanga province is expected to generate $31 billion (P1.65 trillion) annually, or about 4 percent of the Philippines’ gross domestic product (GDP), the Bases Conversion and Development Authority (BCDA) said on Friday.
In a statement, the state-owned agency indicated the amount was part of Executive Vice President Aileen Zosa’s presentation of BCDA-led projects under the government’s “Build Build Build” infrastructure program during the Annual Belt and Road Summit in Hong Kong on Thursday.
According to BCDA, Zosa said the planned city would be an “intelligent, green, resilient, future-proof and socially inclusive metropolis.”
It will feature “transport and logistics-based development driven by a transport hub” that is “ideal for investments” and accessible and convenient for people, it said.
The BDCA “will work with local and foreign partners to transform New Clark City into a key regional transport and investment hub [that]will ease congestion in…Metro Manila.”
Zosa also highlighted in her presentation the expansion of Clark International Airport passenger terminal, a P15-billion joint project with the Department of Transportation (DoTr); the construction of the Subic-Clark Cargo Railway, which will cost P50 billion; and the Manila-Clark Railway, whose value the DoTr set at P300 billion.
Once built, New Clark City is expected to have 1.12 million residents and 800,000 workers.
“New Clark City will be much bigger than the existing 4,400-hectare Clark Freeport and Special Economic Zone, which is already an important haven for employment and investment in the country,” BCDA said.
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