Clark sees investments worth P20B in 2007
STELLA ARNALDO, GMANews.TV
02/19/2007 | 07:54 PM
CLARK FREEPORT, Pampanga – The Clark Development Corp. expects P20 billion in investments this year following what the state-run corporation sees is the imminent restoration of the economic zone’s status as a free port.
CDC president and chief executive officer Levy Laus told reporters over the weekend that he was “extremely jubilant" over Congress’ endorsement of Clark’s special status because it restores incentives and makes it at par with the Subic Freeport.
Last February 1, a bicameral conference committee ratified the reconciled version of separate bills filed in the Senate and the House of Representatives converting the 4,400-hectare special economic zone into a free port.
The ratified version also restores investment incentives and duty-free privileges to its locators, as provided under Republic Act 7227 or the Bases Conversion Development Act of 1992. (More at GMA News TV. Photo of Levy Laus by Tetep Marasigan)