BCDA

On behalf of the Bureau of Treasury, Department of Finance (DOF) Secretary Ralph G. Recto (second to the left) received a cheque worth Php1.1 billion from the Bases Conversion and Development Authority (BCDA) on April 29, representing its dividends remittance for 2024 to help beef up the national coffers.

The amount is double than its total remittance of PHP 527 million in 2023 and brought BCDA’s total dividend contribution to the national government to around PHP 9.6 billion since its inception in 1992.

The Bases Conversion and Development Authority (BCDA) welcomes the filing of Senate Bill No. 2647, a measure seen to give workers access to affordable housing, accelerate infrastructure development, further drive investments in the country, and support the pension fund of the Armed Forces of the Philippines (AFP).

The Bases Conversion and Development Authority (BCDA) and the Maharlika Investment Corporation (MIC) have forged a strategic partnership to explore investment opportunities within BCDA properties, including Clark Freeport and Special Economic Zone.

On 29 April 2024, BCDA President and Chief Executive Officer (PCEO) Joshua M. Bingcang and MIC PCEO Rafael D. Consing Jr. signed a memorandum of understanding (MOU) to move forward with their plans of including some of BCDA’s projects and programs in the portfolio of Maharlika, the Philippines’ first sovereign wealth fund.

The Bases Conversion and Development Authority (BCDA) has remitted Php1.1 billion in dividends to the Bureau of the Treasury (BTr), providing additional support for the national government’s expenditures and efforts to propel economic growth this year. 

The Subic-Clark Railway Project (SCRP), expansion of the Clark International Airport, and the Clark National Food Hub are among the high-impact projects offered to American and Japanese investors in the proposed Luzon Economic Corridor, which forms part of the Group of Seven (G7) Partnership for Global Infrastructure and Investment (PGII).

Special Assistant to the President for Investment and Economic Affairs Secretary Frederick D. Go expressed his optimism over the Supreme Court decision resolving the legal dispute between the Bases Conversion and Development Authority (BCDA) and its lessee CJH Development Corporation (CJHDevCo), saying “this development will enable the government to unleash the full potential of the John Hay Special Economic Zone and spur inclusive economic opportunities for northern Luzon.”

Executive Secretary Lucas P. Bersamin on Monday, April 15, welcomed the Supreme Court’s “favorable decision in the legal dispute between the Bases Conversion and Development Authority (BCDA) and its private partner-developer Camp John Hay Development Corporation (CJHDevCo).” 

“The BCDA will meet with stakeholders to map out the next plan of action following the ruling of the High Court,” the Executive Secretary said.

We at the Bases Conversion and Development Authority (BCDA) and the John Hay Management Corporation (JHMC) welcome the Supreme Court decision on the legal dispute with CJH Development Corp., allowing the BCDA and JHMC to recover the 247-hectare property in John Hay Special Economic Zone and utilize it for the full interest and benefit of the government and of the Filipino people.

Learn more about the Supreme Court decision by viewing this link: https://sc.judiciary.gov.ph/sc-upholds-arbitral-ruling-ordering-cjh-devt-corp-to-vacate-john-hay-special-economic-zone/

After a fruitful business mission, the Bases Conversion and Development Authority (BCDA) is bringing to the Philippines four agreements with Australian companies in the field of smart city solutions, aimed at making the Philippine economy more agile and creating more gainful jobs for the Filipinos.

Over 100 US companies have expressed interest in exploring investment opportunities in Clark, especially in the fields of connective infrastructure, information and communications technology (ICT), and the critical minerals sector.