Clark Development Corporation (CDC) welcomes the decision of President Ferdinand Marcos, Jr. to interpose his veto on House Bill 7575, titled: An Act Establishing the Bulacan Airport City Special Economic Zone and Freeport, Province of Bulacan and Appropriating Fund Therefor.”
Recognizing the existence of Clark Special Economic Zone (CSEZ), President Marcos put emphasis on the significant role of Clark Special Economic Zone in being at the center of economic development, not only to Central Luzon but to the rest of the country.
“This sets the tone of President Ferdinand R. Marcos, Jr.’s administration vis-a-vis Clark Freeport Zone and Clark Special Economic Zone. This decision is a big boost to our marketing efforts and our goals of attracting investments in Clark. God bless this administration for not succumbing to pressures from the proponents of the Bulacan City Special Economic and Freeport,” CDC President and CEO PBGen. Manuel R. Gaerlan said in a statement.
CDC, mandated to manage and develop this area, has so far remitted P6.06B to the national coffers since its establishment. It continues to attract investments, not only from local sources, but also from investors all over the world.
With its proximity to Clark International Airport and the North South Rail System, CSEZ will continue in the coming years to attract more investors, provide more employment and generate funds for the national treasury.
While the proposed special economic zone will provide employment and introduce industrial development in the area, this is not the proper time to appropriate funds which are more needed to revitalize the weakened economy, to provide assistance to recovering industries and help our educational and health sector to go back to normal operations.
We believe that Clark Development Corporation is more than ready to provide the impetus needed by the national government to jumpstart its economic recovery programs.