Home Headlines CDC cites gains, celebrates its 28 years in service

CDC cites gains, celebrates its 28 years in service

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CLARK FREEPORT – As it celebrates its 28th year anniversary, Clark Development Corporation (CDC) continuously posted various accomplishments for the year 2020, notwithstanding the challenges brought about by the pandemic.

The numerous COVID-19 efforts that were initiated to help every community within and near the Freeport also highlighted CDC’s unceasing commitment to promote inclusive development.

 

ON LOCATORS, EMPLOYMENT, AND INVESTMENTS

 

The number of locators in the Freeport remained at a total of 1, 226 firms. These companies, which are involved in various industries such as manufacturing, logistics, tourism, information-communication technology, and aviation-related businesses persisted to provide employment and opportunities for 115,375 workers, despite the far-reaching effect of the COVID-19 health crisis.

By putting in place the standard safety and health protocols set by CDC and other government agencies, these firms were also able to initiate efforts to ensure business continuity and their workers’ safety.

Meanwhile, the state-owned firm has also seen an upsurge in its investments, citing a total of P245 billion for the year 2020. This shows a 3.38% increase compared to the total investments in 2019 at P237 billion.

Aside from this, the Philippine Statistics Authority (PSA) on its report on approved foreign investments in the country, it was mentioned that CDC posted the highest double-digit growth with 19.6% among other Investment Promotions Agencies (IPAs). This goes to show that despite the looming effects of the health crisis last year, this Freeport remains to be one of the most preferred business destinations in the Philippines and Asia Pacific Region.

 

ON FINANCIAL PERFORMANCE

For the year 2020, the state-owned corporation shared that it recorded an unaudited financial statement with revenue of P2.60 Billion. Given the challenging times, this still signifies a considerable amount of gain despite posting an 11-percent decrease from its previous revenue of P2.93 billion in 2019.

CDC also remains optimistic for the year as it was able to maintain a strong cash position. The state-owned corporation posed an improved financial stance with a 4-percent increase compared to 2019. The overall cash level of CDC in 2020 at P5.19 billion was also seen as thirty times higher than that of 1996 at P173 million. For its net income, the government–owned corporation recorded a total of P0.84 billion. The total export value in the Freeport was also reported at US$6.45 billion.

 

COVID EFFORTS AND RESILIENCE

Unfazed by the challenges of the global pandemic, numerous outreach activity, programs, and projects for communities served as CDC’s response to mitigate the spread of COVID-19.

Some of these efforts include the conversion of Clark establishments into quarantine facilities. At the onset of the health crisis, the CDC with the support of the Bases Conversion and Development Authority (BCDA), transformed the ASEAN Convention Center into a COVID-facility which consisted 150 beds. The same approached was facilitated at the New Clark City (NCC) that currently has a total of 1,121 beds. NCC’s National Government Administrative Center (NGAC) and Athletes’ Village served as safe havens for COVID patients. Locally Stranded Individuals (LSIs) at the dawn of the pandemic were also given aid and free accommodations.

Apart from this, free transportation was also provided to this Freeport’s workers, and stakeholders through the provision of a reliable transportation system called the ‘Clark Loop’. This Bus Rapid Transport System features a convenient, and hassle-free commute for everyone going to and from the Freeport. Standard health protocols were also being followed inside the vehicles.  Adjacent Local Government Units (LGUs) similarly received assistance and donations from CDC to help on their COVID response.

CDC also acknowledged the efforts and sacrifices of its health personnel and individuals who are serving in the frontlines to fight the spread of the dreaded disease. Their dedication and commitment also gained them recognition from various government agencies including Commission on Audit (COA), Department of Health (DOH), and Department of Public Works and Highways (DPWH).

These feats and all the other Corporate Social Responsibility (CSR) programs of the corporation underscored this Freeport’s resilience and CDC’s commitment for excellent public service even in the midst of a global crisis.

More developmental plans and strategies are also in the pipeline to help everyone build up their strength after the pandemic. With the CDC’s new management under the leadership of PBGen. Manuel R. Gaerlan (Ret.) and CDC Chairman Atty. Edgardo Pamintuan with the support of the CDC Board of Directors, the state-owned firm envisions to “Reset, Rebound, Recover” and continue to stir growth in the coming years not only in the Freeport but also in the whole country.

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