CITY OF SAN FERNANDO, Pampanga — The year 2018 saw the economy of Central Luzon in a sustainable growth level primarily pushed by major developments in the region.
Amid the mild domestic and external challenges that the Philippines experienced in the past months, Central Luzon remained one of the core regions contributing significantly to the overall growth of the country as fueled by the impressive performances of the region’s emerging cities and special economic zones.
The biggest contributors to the region’s steady growth this year are the three Freeport zones, namely the Clark Freeport Zone, Subic Freeport Zone and the Bataan Freeport Zone.
Investments and Job Opportunities
The Clark Freeport Zone is becoming the next economic haven of Luzon with unprecedented gains in investments, revenues, employment and other significant achievements.
Noel F. Manankil, president and CEO of the Clark Development Corporation (CDC), said the impressive accomplishments in the freeport can be attributed to the sound business climate that attracted more investors.
CDC’s latest number of locator-firms totaled 949, most of them in the information communication technology (ICT), service and developers’ industries. This resulted in the creation of jobs for 108,000 workers.
“With its extensive involvement in the government’s Build, Build, Build, program, Clark will be able to provide more jobs and opportunities for the Filipinos,” Manankil said.
The Subic Bay Freeport, on the other hand, has a total of 1,596 business locators that employ a total workforce of 133,940.
“There is a significant harvest of business commitments and opportunities for Subic, and it only goes to show that this freeport remains to be one of the strongest economic drivers in the country today,” SBMA chairman and administrator Wilma T. Eisma said.
For the first half of the year, the SBMA has approved 45 new investment projects worth a total of PHP2.85 billion, bringing the cumulative investment commitments to PHP499.6 billion.
Eisma said the SBMA hopes to create more business opportunities as it arranges cooperation programs with neighboring communities to host additional investment projects. (PNA)
