The Bases Conversion and Development Authority (BCDA) turned over Php5.17 billion to the national government on Monday, underscoring its commitment to nation-building and inclusive growth through strategic asset transformation and revenue generation.
The remittance, held at the Department of Finance (DOF) headquarters in Pasay City, directly contributes to the modernization program of the Armed Forces of the Philippines and supports various socio-economic initiatives aimed at uplifting Filipino lives.
Finance Secretary Ralph Recto lauded BCDA for exceeding the department’s directive of remitting at least 75% of its net income. “Hindi lang kayo tumutupad sa tungkulin, lumalagpas pa kayo. Php5.17 billion can be around a thousand classrooms, or buy fertilizer for more than half a million hectares of rice land, or a quarter billion for our children,” Recto said.
BCDA President and CEO Engr. Joshua M. Bingcang emphasized that the remittance is a product of a “long and purposeful journey” rooted in nation-building. “What we turn over today is a reflection of that journey. One that opens more opportunities. One that builds infrastructure that connects lives and livelihoods. One that measures growth not just in revenues, but in improved lives,” he said.
For over three decades, BCDA has transformed former military bases and properties into dynamic economic zones and mixed-use developments. The agency’s efforts align with the Marcos administration’s socioeconomic blueprint of creating a transparent, inclusive, and sustainable growth environment.