QUEZON CITY (PIA)-- Clark Development Corporation (CDC) President Atty. Agnes VST Devanadera highlighted the freeport zone’s high potential to generate more income from investments at the Philippine Information Agency’s weekly press conference.

President Devanadera said on September 22 that, as of June, the CDC has generated P 5.57 billion worth of investments while hosting 1,137 locators. She added that the agency has a workforce of 127,509, excluding construction workers, outsource employees, and casual workers within its 30,000-hectare land.

Clark Freeport Zone is situated strategically both from an international and local standpoint due to the Clark International Airport, its accessibility to other business districts, and the ongoing construction of the North-South Commuter Railway.

Aside from geographical advantages, President Devanadera stated that the CDC attributes its progress as a premier investment and tourism destination to its policies and implementation.

"We have fiscal incentives, automated processes, and major policies in place. We are actively engaged in advocating for changes, modifications, or amendments in national government policies to further improve the business environment," President Devanadera said.

Fiscal incentives in Clark include an Income Tax Holiday, 5% Tax on Gross Income Earned, Enhanced Deductions, VAT Exemption and Duty-Free imports.

President Devanadera also stated that the CDC is focused on water, labor rates, utility rates, and power as areas of heightened readiness in preparation for an influx of investors.

“Clark Development Corporation is now very visible in congress when we do our advocacy and support, (on) some of the bills that will help our locators. We are also very visible in agencies which we think make representations on behalf of locators,” Devanadera stated as she expressed the CDC’s support in making investors’ processes smoother. (GG/PIA)