New clark city: Government resources for the proposed Clark Advanced Manufacturing Park will be directed toward addressing social concerns of communities in the area rather than financing the industrial development itself, the Bases Conversion and Development Authority (BCDA) assured Friday.

According to Philippines News Agency, during a Senate hearing, BCDA President and Chief Executive Officer Joshua Bingcang stated that the agency's contribution to the planned 1,600-hectare development in New Clark City is primarily limited to the provision of land. Bingcang clarified that BCDA would not provide other government funding or resources for the project, responding to Senator Bam Aquino's inquiry on the matter.

At present, Bingcang emphasized that the agency does not foresee participating in the financing of the industrial hub, reiterating that BCDA will have no role in the financial aspect of the development. Instead, Bingcang highlighted the agency's commitment to using its resources to address social concerns affecting communities within the development area, particularly focusing on the existing residents, farmers, and indigenous peoples.

Department of Trade and Industry Undersecretary and Philippine Board of Investments Vice Chair and Managing Head Ceferino Rodolfo indicated that investors are anticipated to finance the essential infrastructure needed for the development. Rodolfo explained that the investors have agreed to build the basic infrastructure themselves.

Bingcang further mentioned that while BCDA can identify the development area's metes and bounds, the specific plans within the property would be formulated by the investors and subjected to regulatory approval. Although the overall development has been planned, the detailed investor-specific blueprint would be prepared subsequently. Under BCDA's standard business arrangements, investors are generally given six months after signing a contract to submit their detailed development plans.

Senator Aquino noted that having such detailed plans would help replace speculation with concrete information regarding the facilities to be built, the expected investment, and the actual implementation of the project.