||Asean Affairs 18 July 2013
Foreign investors Eye Property Dev’t
The state-owned Bases Conversion and Development Authority (BCDA) said foreign real estate developers have expressed interest in investing in the Philippines.
BCDA President and CEO Arnel Paciano D. Casanova, who attended the recently-concluded 2nd Urban Land Institute (ULI) Asia Pacific Summit in Shanghai, China, said foreign investors cited the country’s investment grade status and for posting the highest GPD in the region.
Casanova, also the Chairman of the government’s Philippine Investment Promotions Plan (PIPP) Steering Committee, said the BCDA was the only non-Chinese exhibitor in the summit that gathered together some 400 real-estate developers in Asia-Pacific region.
“With the recent investment upgrade, sound economic fundamentals and the good governance being carried out by the Aquino administration, the country is now being seriously considered as an investment haven,” Casanova said.
He said the Aquino administration’s efforts in curbing corruption have played a key role in increasing investors’ confidence.
“We are now going towards the direction that the Philippines treats every business with fairness and transparency in a level playing field,” Casanova said adding that “good governance is good economics.”
He reported that the BCDA team that attended the ULI summit highlighted the various properties of the BCDA group in Bonifacio Global City, Bonifacio South, Clark Special Economic Zone that includes the Clark Green City, Clark International Airport, the Poro Point Freeport that includes the San Fernando Airport and the Poro Point Seaport, John Hay Special Economic Zone, and the Atmanda Tourism and Leisure Park located inside the Bataan Technology Park at the Morong Special Economic Zone.
“We got an overwhelming response from various international real-estate firms on our properties and we expect them to visit the country soon to see for themselves the investment opportunities in the country,” Casanova said.
He said the BCDA is now focusing to create an environment that is friendly and open to foreign investors and tourists. He pointed out that BCDA is also aggressively promoting the development of the needed infrastructure for investors such as airports and seaports because these are the gateways for international businesses to come in. (BCM)