SSS investing P30 B in Clark
Updated October 20, 2017 – 12:00am
http://www.philstar.com/
MANILA, Philippines – The Social Security System (SSS) plans to invest as much as P30 billion to be part of the development of Clark through a joint venture arrangement with state-run firms Clark Development Corp. (CDC) and the Bases Conversion Development Authority (BCDA).
A hotel development is the first project being eyed to be jointly undertaken by the three state-run firms.
“We want to be part of the momentum of growth in this area (Clark Freeport). This area will be first world aspiration,” SSS chairman Amado Valdez added.
Valdez said SSS is making available some P20 billion to P30 billion for its investments in Clark.
BCDA is developing the New Clark City, a 9,450-hectare new metropolis that will rise in the Clark Special Economic Zone in Capas and Bamban, Tarlac.
It is envisioned to be the country’s first and only smart and green city, which will feature mixed-use real estate developments, an agro-industrial park and a food-processing terminal.
Valdez assured the 34 million SSS members that their contributions will be put in “meaningful development.”
SSS commissioner Jose Gabriel La Viña, for his part, said Clark has everything that Singapore has, and even much more to offer.
“We can see the future of the Philippines here (in Clark). As the development here in Clark goes up, there will be a lot of wealth created,” La Viña said.
