Pax Silica: Gov’t won’t fund AI hub in New Clark City

MANILA – Government resources for the proposed Clark Advanced Manufacturing Park will be directed toward addressing social concerns of communities in the area rather than financing the industrial development itself, the Bases Conversion and Development Authority (BCDA) assured Friday.

During a Senate hearing, BCDA President and Chief Executive Officer Joshua Bingcang said the agency’s contribution to the planned 1,600-hectare development in New Clark City is limited primarily to the land.

“Kung sa 1,600 po, nakikita namin wala po. Puprovide lang po ‘yung lupa (For the 1,600 hectares, as we see it now, there will be none. We will only provide the land),” Bingcang said when Senator Bam Aquino sought clarification on whether BCDA would provide other government funding or resources.

At the moment, Bingcang said the agency does not see itself participating in the financing of the industrial hub.

“Ang BCDA po, wala pong participation on the financing po (BCDA will have no participation in the financing),” he said.

Instead, Bingcang said the agency’s resources would be used to address concerns involving communities within the development area, after Aquino specifically raised the situation of existing residents, farmers and indigenous peoples.

“Yun po ‘yung pondo namin to address po ‘yung social concerns ng area (Our funds will be used to address the social concerns of the area),” Bingcang said.

Investors as financiers

Department of Trade and Industry Undersecretary and Philippine Board of Investments Vice Chair and Managing Head Ceferino Rodolfo said investors themselves are expected to finance the basic infrastructure required for the development.

“Ang usapan ng mga investor mismo, sila ‘yung pupunta para magtayo ng mga basic infrastructure (The arrangement is that the investors themselves will come in and build the basic infrastructure),” Rodolfo said.

Bingcang said BCDA can already identify the metes and bounds of the development area, but the specific plans within the property would be prepared by the investors and subjected to regulatory approval.

While the overall development of the area has already been planned, he said the investor-specific blueprint would come later.

Bingcang said that under BCDA’s usual business arrangements, investors are normally given six months after the signing of a contract to submit their detailed development plans.

Aquino said such details would help replace speculation with concrete information on what facilities would be built, how much investment would come in and how the project would actually be carried out.

Disclaimer: The comments uploaded on this site do not necessarily represent or reflect the views of management and owner of Cebudailynews. We reserve the right to exclude comments that we deem to be inconsistent with our editorial standards.