With the Build Build Build infrastructure plan in place, the government is set to pour in billions in investment to position Clark as the next premier investment center of Asia.
To date, exports of Clark Freeport Zone increased by $1.08 billion or 82 percent compared to the same period in 2016; while total imports increased by $1.04 billion or 79.45 percent.
The Build Build Build program will invest in high-impact legacy projects that will usher in the golden age of infrastructure in the country.
The government, through the BCDA, will implement these infrastructure projects for the development of Clark and its environs which is seen to benefit the people of Central Luzon. The projects include the Php 12.5B Clark International Airport New Terminal Building (Phase 1), the Php57.2B Subic-Clark Cargo Railway, PhP 105B Manila-Clark Railway (Phase 1) and the multi-billion dollar New Clark City, among others.
For 2017 alone, the government allocated 5.4 percent of the gross domestic product for infrastructure spending. To attain this bold and ambitious infrastructure vision, the government will spend a total amount of P8.4 trillion (approximately US$ 160 billion) for infrastructure in the next six years.
An amount of P12.5B is allocated for the construction of the first phase of the Clark International Airport New Terminal Building, projected to increase passenger capacity by 8 million per year from the existing 4.2 million passengers per year, for a total of 12.2 million passengers per annum. The ultimate target is 80 million per year upon completion of the fourth phase under the latest masterplan.
The New Clark City will have different features such as the creation of a national government center (PhP 83B), a food processing terminal and international food market (PhP31.3B), and mixed income development housing (PhP8.300,000,000.00). Of the 9,450-hectare New Clark City, BCDA will be preserving approximately 70 percent of the total land area as open spaces for agriculture and forest land. Only 3,250 hectares will be developed for urban use.