3 projects pitched for Luzon Economic Corridor – BCDA

By Kris Crismundo

April 22, 2024, 4:53 pm

MANILA – The Bases Conversion and Development Authority (BCDA) said on Monday three of its projects are being endorsed for the proposed Luzon Economic Corridor.

The BCDA said the Subic-Clark Railway Project (SCRP), expansion of the Clark International Airport, and the Clark National Food Hub are pitched to American and Japanese investors under the USD600-billion Partnership for Global Infrastructure and Investment (PGII) of the G7 countries.

During the trilateral meeting of President Ferdinand R. Marcos Jr., US President Joe Biden, and Japanese Prime Minister Fumio Kishida in Washington DC early this month, it was unveiled that the G7 countries eye to develop the Luzon Economic Corridor.

The Luzon Economic Corridor aims to establish connectivity in economic hubs in Luzon – Subic Bay, Clark, Manila, and Batangas.

BCDA president and chief executive officer Joshua Bingcang said in a statement these projects of the government-owned and controlled corporation are high-impact projects.

“We are confident that the inclusion of SCRP, expansion of Clark International Airport, and the Clark National Food Hub in the proposed Luzon Economic Corridor will help us accelerate the implementation of these game-changing infrastructure projects, not just for the country but for the whole Indo-Pacific region,” Bingcang said.

He said the endorsement of the three projects for PGII will help BCDA achieve its vision for Clark to be Asia's next investment hub.

The SCRP, a project of BCDA and the Department of Transportation, aims to provide freight service between the Subic Bay Freeport Zone and the Clark Freeport and Special Economic Zone, linking Subic Port with Clark International Airport and other major economic hubs in Central Luzon, particularly New Clark City.

The BCDA is also eyeing to expand the Clark International Airport by building a new runway, taxiways, aprons, and landside access roads and utilities to cater to major logistics firms locating in Clark.

The PHP8.5-billion National Food Hub at the Clark Airport Complex targets to be a leading agricultural resource hub in the region.

“These three high-impact projects are BCDA's contribution to the efforts of Special Assistant to the President for Investment and Economic Affairs Frederick Go to drive sustainable and inclusive economic growth in the country and make the Philippines a top investment destination,” BCDA said. (PNA)