Executives of the state-run and Global City, Fort Bonifacio-based, Bases Conversion Development Authority (BCDA) bared on Thursday that they are now engaged in talks with several multi-national firms based in China, but are now looking for other countries to relocate their businesses.
BCDA president and executive officer Arnel Paciano Casanova said that some of these foreign investors have initially signified their intentions to relocate their businesses to the Clark Development Corp. (CDC) in Pampanga, Poro Point Development Corp. in La Union and at Camp John Hay in Baguio City, which are all subsidiary companies of the BCDA.
The three areas are also former military bases, which the BCDA developed as part of its mandate to help the government generate much-needed funds to modernize the Armed Forces of the Philippines (AFP).
“I don’t want to name them (foreign firms) at this time,” Casanova said, saying that negotiations with the foreign locators are still on the initial stage.
Casanova made the disclosure following a guided-tour for members of the media of the Fort Bonifacio tunnel, which the BCDA intends to develop as a tourist attraction center in the already highly-developed Global City in Taguig.
In line with this bright business prospect, the BCDA is planning to build an airport at Poro Point, which it intends to transform into a business gateway for these foreign investors in Northern Luzon area.
The group also plans to further develop Clark Airfield in Pampanga, which is now considered as the number three best business-friendly airport in the world.
Over the past weeks, Tokyo and Beijing have been engaged in a tense standoff in East China Sea over their respective territorial claims on the Senkaku group of Islands.
Protesting Chinese nationals attacked Japanese companies in several coastal cities forcing the temporary closures of the firms.
Japan had said that if Beijing fails to ensure the safety of Japanese nationals and their business interests in China, it would be forced to relocate their companies to other countries.
United States (US) Ambassador Harry Thomas was earlier quoted that China-based US investors are also looking at the Philippines as a possible relocation site of their businesses due to the continued Chinese anti-American sentiments.
China accused the US government of fanning out the already murky waters in the East and South China Sea, to promote its interest in the region.-The Philippine Star (September 27, 2012 4:47PM)
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