CDC: Veto of HB 7575 a big boost to Clark 

CLARK FREEPORT – The Clark Development Corporation (CDC) welcomes the decision of President Ferdinand Marcos, Jr. to veto House Bill 7575, which will create the Bulacan Airport City Special Economic Zone and Freeport, saying the decision is a big boost to marketing efforts and goals of attracting investments in Clark.

CDC President and CEO PBGen. Manuel R. Gaerlan, in a statement, said President Marcos, recognizing the existence of Clark Special Economic Zone (CSEZ), has put emphasis on the significant role of Clark Special Economic Zone in being at the center of economic development, not only to Central Luzon but to the rest of the country.

“This sets the tone of President Ferdinand R. Marcos, Jr.’s administration vis-à-vis Clark Freeport Zone and Clark Special Economic Zone. God bless this administration for not succumbing to pressures from the proponents of the Bulacan City Special Economic and Freeport,” Gaerlan said.

CDC, mandated to manage and develop this area, has so far remitted P6.06B to the national coffers since its establishment. It continues to attract investments, not only from local sources, but also from investors all over the world. 

With its proximity to Clark International Airport and the North South Rail System, CSEZ will continue in the coming years to attract more investors, provide more employment and generate funds for the national treasury, Gaerlan said.

He also noted that while the proposed special economic zone will provide employment and introduce industrial development in the area, this is not the proper time to appropriate funds which are more needed to revitalize the weakened economy, to provide assistance to recovering industries and help our educational and health sector to go back to normal operations.

“We believe that Clark Development Corporation is more than ready to provide the impetus needed by the national government to jumpstart its economic recovery programs,” he said.