“No we’re not affected. If at all, we’ll double down putting more money in and expanding our operations,” GGDC CEO Mark Williams told members of the media at the sidelines of the topping off ceremony for the One West and Two West buildings in the Aeropark Campus of Global Gateway Logistics City (GGLC) here on Tuesday.
He said he remained bullish with US investments in the Philippines especially in this freeport.
“We are just really excited about investing here in the Philippines. We think there’s a lot of opportunity here,” said Williams.
“We have been here since 2008 and we look forward to being here for a long time in the future,” he added.
Williams said they have invested more than $200 million so far and will be investing another $200 million more within the next 12 months.
On September 30, American Chamber of Commerce Philippines (AmCham) Executive Director Ebb Hinchlife said he is not worried by Mr. Duterte’s pronouncements and the AmCham remains strong and confident in doing business here.
“It’s business as usual,” he said.
GGDC is the same company that built The Medical City Clark—a 173-bed world-class medical center and the first locator in GGLC, a 177-hectare master- planned mixed-use aerotropolis that is the fi rst of its kind in the country.
GGDC was originally founded by The Port Fund, a private equity fund managed by Kuwait firm KGL Investment Company (KGLI) whose investors largely consist of the shareholders of government entities of Kuwait and other GCC countries.
The GGDC project is directly adjacent to Clark International Airport and boasts of superior, worldclass infrastructure constructed to internationally recognized standards and quality underground infrastructure (including pressurized water systems, electrical, telecommunications and fiber optic cabling, and oversized storm water drainage systems) that is unique in the country.
“At full build-out, the City will create over 300,000 jobs translating to over $600 million in annual payroll,” Williams said.
Officials of GGDC include another top American executive, Michael Russel, as its president.
Russel said GGDC plans to transform GGLC into a state-of-the-art commercial and logistics aerotropolis built to the highest environment standards. GGDC has a lease on the property for a period of 50 years, with an option to renew for 25 years.
