The Bases Conversion and Development Authority (BCDA) is targeting about P165 billion in additional investment partnerships within three months, expanding its development pipeline in agriculture, energy and aviation while seeking to turn rising private-sector interest into sustained government revenues and jobs.
BCDA president and chief executive officer Joshua Bingcang said the prospective agreements would build on nearly P200 billion worth of partnerships signed over the past three years, which are expected to support revenues and dividend payments to the national government over the next five years.
The BCDA board has approved investment proposals from two Indian companies, with agreements expected to be signed soon. One involves a P4-billion development, although Bingcang did not disclose further details.
In New Clark City, the state-run developer is pursuing modern agricultural production and high-value crop ventures that would complement the Department of Agriculture’s planned national food hub in Clark.
Energy is another priority, with New Clark City’s power requirements expected to exceed 100 megawatts by next year. Bingcang said BCDA was working on agreements to secure reliable, clean and affordable electricity as commercial and industrial activity expands.
At Clark, a European company is preparing to sign a lease agreement and has asked BCDA to construct its facility. Bingcang described the project as a multibillion-peso investment that could create thousands of jobs, although he did not identify the company or disclose the proposed facility’s nature.
The authority also plans to support private investments with public infrastructure, including road improvements and other facilities needed by businesses operating in its development areas.
BCDA’s approved investments reached P145.46 billion in January to October, up from P59.98 billion in the same period last year.
The pipeline signals growing investor interest in BCDA-administered properties, but the challenge will be converting approved proposals and prospective agreements into actual projects, operating businesses and durable economic activity.
