The Philippine Chamber of Commerce and Industry (PCCI)-Cordillera Administrative Region (CAR) expressed optimism that more economic and business opportunities will open up for Baguio City and its neighboring towns, following the Supreme Court decision affirming the arbitral resolution allowing the Bases Conversion and Development Authority (BCDA) to recover the 247-hectare property in the John Hay Special Economic Zone.
PCCI-CAR Regional Governor Deimler O. Cuyan said in an official statement that the Supreme Court’s ruling ordering the Camp John Hay Development Corporation (CJHDevCo) to vacate the leased property and turn it over to the BCDA ends a period of uncertainty and gives high hopes for the sustainability and stability of business in the region.
Cuyan said that the decision brings a renewed business environment that will foster investment and trade opportunities for the Baguio business community. He added that these new prospects will optimize the potential of Camp John Hay as a catalyst of economic growth in Baguio and the CAR.
“We strongly support the national government in further creating a robust business environment in the region. We are confident that the ongoing efforts will yield remarkable results and create lasting changes for the better,” Cuyan said.
In a press briefer released by the Supreme Court on April 10, it announced that the en banc has affirmed the ruling of Baguio City Regional Trial Court, allowing the BCDA and JHMC to recover the 247-hectare property in John Hay Special Economic Zone and utilize it for the full interest and benefit of the government and of the Filipino people.