CLARK FREEPORT, Pampanga — This Freeport continues to be one of Asia’s leading economic centers as shown by its unprecedented gains in investments, revenues, employment and other significant achievements in 2017.
CDC president and CEO Noel F. Manankil, in his report to the Clark Development Corporation (CDC) Board of Directors, on Wednesday said that the accomplishments of Clark Freeport for the past year bring about a robust economic impact to the local communities, Central Luzon region, and the country.
Manankil has attributed Clark’s gains to the sound business climate of the Duterte administration.
He also thanked Clark locators, workers, and other stakeholders, the contiguous communities and Bases Conversion and Development Authority (BCDA), the parent company of CDC, for their support.
Manankil cited that the number of locator-firms at CDC at the close of 2017 totaled 949, up by 6 percent from 895 in 2016.
Most of the locator-firms are in the ICT, service, and developers industry at 362, representing 38 percent of the total number.
The report also said that for the same period, the number of employees inside the Freeport had reached 107,997, an increase by more than 14,227 from a year-ago level.
The industrial and manufacturing industry has the most number of employees at 48,476 or 45 percent in the distribution.
Manankil also said that the state-owned firm attained a gross revenue of PHP1.96 billion for the year 2017, a 20 percent growth compared to the 2016 figure of PHP1.64 billion.
This resulted in an unprecedented net income of PHP1.03 billion or a 32 percent jump from the 2016 performance of PHP738 million.
The value of export inside this Freeport also posted high growth rate of 35 percent at USD6.874 billion compared to USD5.089 in 2016.
Aside from being an investment hub, Clark has also poised itself to grow in the tourism aspect.
Last year, 93 events were held at the Freeport while 1.142 million tourists, both foreign and local, were recorded to have visited the Clark. (Ric Sapnu/PNA)
