By Mar Supnad
Local officials are preparing for the full industrialization of the Hermosa economic zone as more investors are bent on investing in Central Luzon, the fastest growing economic region in the country.
Mayor Jopet Inton said his town is now preparing to accommodate the expected arrival of foreign investors, particularly from Middle East countries, to pour in their investment for food production here.
He asked Councilor Rex Jorge to be in charge in assisting and facilitating the needs of investors.
“At present, Region 3 is growing at 9 percent, which is 2 percentage points above the national average; Gross Domestic Product (GDP) growth that is 7 percent,” Bases Conversion and Development Authority (BCDA) President and Chief Executive Officer Vivencio Dizon said during the recent third leg of the Clark Development Stakeholders’ Roadshow.
“The investors coming from Japan, China and even the European Union are very enthusiastic in coming to these areas because they see that the government is ready to allot funding for the various interconnectivity infrastructure, which is needed by the business folk for their investments to flourish,” explained Dizon.
Clark to Hermosa is just 25 minutes drive away by car while Hermosa to Subic is just 10 to 12 minutes drive away.
SBMA has programmed Hermosa as part of its expansion program to accommodate more investors.
The BCDA chief said that the administration of President Rodrigo Duterte, in its first budget, has allocated Php800 billion for infrastructure, which is double the average funding allocated by the past administrations.
For the longest time, Dizon admitted that the Philippine government has taken for granted the crucial role of infrastructure in the country’s development.
“Our neighboring countries here in Asia such as Singapore, Hong Kong, Malaysia, Indonesia and even Vietnam have left us behind in terms of infrastructure. This is exactly why President Rodrigo Duterte has been consistently pressing us [at BCDA] on the Build! Build! Build! Infrastructure program initiated by his administration,” he added.
He added that business folks invest where they can see infrastructure being put up now and in the near future.
“The more the infrastructures, the faster the GDP growth of the region, and growth means jobs, investments, technology and innovation,” Dizon stressed.