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Friday, March 29, 2024

Beyond adversities: CDC celebrates 29 years of continued success

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Clark Development Corporation (CDC) marked its 29 years in service with the significant milestones it has achieved amidst the challenges posed by the global health crisis. The state-owned firm’s remarkable gains on investments, financial performance, and other developments also underscored its resilience and stability in the face of adversity.

LEADERS OF DEVELOPMENT. CDC Board of Directors led by its Chairman Atty. Edgardo Pamintuan (6th from left) with CDC President and CEO Manuel R. Gaerlan (5th from right) continue to create more possibilities for Clark Freeport Zone. Also at the forefront in bringing Clark to greater heights are (from L-R) Dir. Marcelino Q. Malajacan, Jr., Dir. Ernesto D. De Vota, Dir. Felimon T. Santos, Jr., Dir. Ana Liza A. Peralta, Vice Chairman Benjamin P. Defensor, Jr., Dir. Jon T. Castro, Dir. Luisito V. Clavano, Dir. Emmanuel B. Salamat, and Dir. Arturo B. Ortiz.

Growth in numbers

With 1,153 locator companies from diverse industries, CDC soars even higher. These locator firms presently employ a total of 121,341 workers from the Freeport’s surrounding communities. A growth in the aggregate investments in Clark was also observed, with a value of P 9.6 billion for 2021.

Meanwhile, industry leaders from around the world are also turning to Clark for a more favorable investment climate. According to a report released by the Philippine Statistics Authority, CDC has the third highest share on the country’s overall growth rate in terms of approved Foreign Investments. CDC’s stake was valued at P 3.68 billion, an increase of 43 percent than in 2020 with P2.57 billion.

Filipino investments in Clark are also on the rise with a 16.2 percent growth in 2021. The approved foreign investments are expected to generate 6,690 job opportunities in Clark.

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A MILLIONAIRE’S PLAYGROUND. Clark Development Corporation (CDC) Chairman Atty. Edgardo Pamintuan (4th from right) joined Hann Philippines Inc. Chairman and CEO Daesik Han (3rd from right) in leading the ribbon-cutting ceremony for the soft opening of Hann Casino Resort inside Clark Freeport Zone. Also, in the photo are (from left to right) Hann Philippines, Inc. Assistant Vice President for Facilities Management and Engineering Vic Sia, Hann Philippines, Inc. Assistant Vice President for Finance Mitchell Estacio, Hann Philippines Inc. Assistant Vice President for Corporate Planning, Development and Communication Agnes Liwanag, Hann Philippines, Inc. Assistant Vice President for Surveillance & Security Jan Andres Struwig, and Swissotel Clark and Widus Hotel General Manager Tarek Aouini.

Outstanding economic performance

CDC has reinforced the positioning of Clark Freeport Zone as a premier investment destination across the globe with its notable pecuniary performance last year. Positive developments on its finances were posed, citing a revenue of P2.63 Billion for 2021 which is one percent higher than its data in 2020 at P2.60 Billion. The state-run corporation similarly maintained a strong financial stance with an overall cash position of P5.96 Billion in 2021. This signifies a 15 percent upturn compared to the figure in 2020 at P5.19 billion.

The government–owned corporation correspondingly generated a P1.30 Billion net income last year, a 55 percent upswing against its P0.84 Billion net income in 2020. CDC’s financial report also showed that the 2021 exports value in Clark is US$ 7.2 Billion while imports is US$6.7 Billion.

BUILDING A SMART CITY. Clark Development Corporation (CDC) President and CEO Manuel R. Gaerlan signed a memorandum of agreement with Korea Land and Housing Corporation (LH) Chief Executive Officer Kim, Hyun-Jun for the development of a feasibility study for Clark Smart City Project.

Sprawling developments

More developments on infrastructures and tourism are shaping up in the Freeport. These enhanced the promotion of Clark as one of the leading Meetings, Incentives, Conferences, and Exhibit (M.I.C.E.) destinations across the region. Some of the exciting new attractions in Clark include the launching of the Hann Resort and Casino, an integrated gaming, leisure, and entertainment center with an estimated investment of P1.2 Billion. Added to this, is the opening of the Clark Safari and Adventure Park on a 40-hectare property with a P135 million investment. These improvements will complement the imminent development of an intermodal transportation system that will provide effective, efficient, and smart mode of transportation in and around the zone.

CDC and SM Prime Holdings Inc. inked a lease agreement in June 2021 for the construction of the P2 billion transport terminal that is intended to increase job opportunities while also providing a sufficient number of departure bays for Public Utility Jeepneys (PUJs), Bus Rapid Transit (BRT), shuttle services, taxis, and other means of land transportation.

SM PRIME INKS NEW INVESTMENT IN CLARK. Presidential Adviser for Clark Programs and Projects and former president Gloria Macapagal Arroyo (5th from left, 2nd row), and Bases Conversion and Development Authority (BCDA) President and CEO and Presidential Adviser for Flagship programs and projects Vivencio Dizon (4th from left, 2nd row) witnessed the signing of lease agreement between Clark Development Corporation (CDC) President and CEO Manuel R. Gaerlan (2nd from right, 1st row) and SM Prime President Jeffrey Lim (2nd from left, 1st row). Also present during the event are (from left to right, 2nd row) SM Supermalls President Steven Tan, PCCI Senior Vice President Glenn Ang, SM Prime Inc. Director Darlene Barberabe, BCDA Chairman Gregorio Garcia III, Vice President for Corporate Affairs of SM Prime Holdings Maria Elena Bautista, CDC Vice President for Business Development and Business Enhancement Group (BDBEG) Rynah Ventura (rightmost, 1st row) and SM Supermalls Assistant Vice President for North Luzon Operations Bien Mateo (leftmost, 1st row). CDC Chairman Atty. Edgardo Pamintuan (not in photo) witnessed the activity via video conferencing.

CDC’s commitment and drive to face the hurdles posed by changing times propelled it to greater heights. The corporation’s strong economic foundation along with its other feats are the direct results of the persistent works and partnership of of the management, employees, locators, and stakeholders of CDC. Ultimately, CDC’s unstinted initiatives in championing the welfare of its nearby communities, as well as its efforts to provide inclusive development, bolstered the state-owned firm’s track record of success for 29 years that no adversity can ever undermine.

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