The top executive of a world-class investment site here commended the plan of the national government to implement more infrastructure projects in the country, especially those in Central Luzon.
Michael Russel, President of Global Gateway Development Corp. (GGDC), said the infrastructure development of the Duterte administration, which Clark Freeport will have much of the windfall, will further strengthen the Freeport’s investment potential particularly the Global Gateway Clark (GGC), a 177-hectare mixed-use estate inside this former US-run airbase.
The American investor said the government’s Build Build Build mantra strengthens the potential of the Freeport as an investment hub because “President Duterte is rightly prioritizing infrastructure. We are very very pleased,” he said.
Russel made the statement at Balitaan, a weekly news conference spearheaded by the Capampangan in Media, Inc. (CAMI) in cooperation with Clark Development Corporation at CDC’s Bale Balita (Media Center).
Russel said GGC will be pouring $45 billion for the development of a world-class economic hub for a 7 to 10 year build out. He expects return of investments to be “good” and 300,000 employment once fully operational.
He also said that they are unfazed by the impending impositions of the “America First” policy of the Trump Administration on US investors located outside the US mainland.
He said that American investors in Clark are not wary of President Trump’s recent pronouncements on encouraging businesses to return to US mainland as Trump vowed to “cut regulations and taxes to make it more attractive for businesses to operate in the US.”
Potential of Clark as a viable investment destination remains, said Russel adding that they will stay in this Freeport to fulfill their vision in the estate property here.
The GGDC president is also all praises to the government, especially to CDC and Clark International Airport, on the ease of doing business in Clark.
”I am telling the investors that the Philippines, especially Clark Freeport Zone, has a huge potential and ‘right’ for investment,” Russel said.
Meanwhile, CDC President Noel F. Manankil welcomes the developments in GGDC area and remains optimistic that more investments and more jobs will be generated by the investors.
Being referred to as the Bonifacio Global City of the north, GGC (formerly known as Global Gateway Logistics City), is now the top priority location for some of the biggest local and international companies scrambling for prime spots in a fully master-planned property.
Russel said that GGDC is the solution to some of Metro Manila’s economic problems like over population, traffic and airport congestion.
GGC is completely livable, disaster-ready and designed to accommodate multinational corporations like airline companies, business process outsourcing (BPO) firms, healthcare industries and transportation facilities essential to a modern day city.
Once completed, the City will be divided into four zones: Aeropark, Business Park, Town Center and Logistics Park.
Its One West and Two West buildings inside its Aeropark is being sold out at a fast pace. Fifty percent of the combined 57,000 square meters of office and retail spaces have already been committed to future lease by prospective investors. The buildings are set for completion July this year.