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CDC nets $1.23B in exports

Monday, December 20, 2010

CLARK FREEPORT — For the first time in its 17-year history, the Clark Development Corporation (CDC) has posted at least $1.23 billion worth of exports in a span of 10 months.

The exports accomplishment comprises more than 30 percent of the projected regional exports for 2010.

Exports in Clark are expected to grow three times higher in the next 24 months, as major semi-conductor companies reach their full operating capacity.

In a report, CDC President Benigno Ricafort also said that Clark’s P6.364-billion worth of investments comprises 19 percent of Central Luzon’s investment figure of P33.84 billion for 2009.

“Clark is expected to have a huge share in Region 3’s (Central Luzon) investment as new projects in the electronic and semi-conductor, manufacturing and tourism sector are completed by 2012 to 2013,” Ricafort said.

Ricafort added the huge worth of investments proves the Freeport’s resiliency and competitiveness amidst the economic recession in 2008.

Ricafort said the centerpiece of CDC’s major achievements was based on the state-owned firm’s economic strategy called the “8-Point Agenda.”

The 8-Point Agenda was a roadmap for CDC’s greater progress in achieving its 3-2-1 goal ($3 billion investments, $2 billion annual exports and 100,000-strong employment by 2014).

The agenda included international standard business center; participative management concept; parallel development program; pro-active coordination with the Clark International Airport Corporation; Clark-Subic synergy; tourism development; strengthening of after sales services and corporate social responsibility.

Aside from this 8-Point Agenda, Ricafort has also turned the 32,000-hectare Clark Special Economic Zone in the Sacobia Valley to be the “Next Frontier.”

The “Next Frontier” aims to develop more than 2,000 hectares of land adjacent to the Freeport. (Charlene Cayabyab/Sunnex)

Source: http://www.sunstar.com.ph/pampanga/local-news/cdc-nets-123b-exports

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