Manila: Approved investments under the Bases Conversion and Development Authority (BCDA) rose 63.82 percent to PHP53.5 billion on an annual basis by end-July, boosting economic growth contribution. In a statement Thursday, the agency said the approved investments in the first seven months this year are seen to generate about 7,000 new jobs, up 6.2 percent from the same period last year, in BCDA-managed economic zones in New Clark City in Tarlac and Camp John Hay in Baguio City.

According to Philippines News Agency, these numbers represent opportunities for thousands of Filipinos and signal the private sector's trust in BCDA's vision of building resilient, smart, and inclusive cities, as stated by BCDA president and chief executive officer Joshua Bingcang. Among the investors that inked contracts with BCDA during the period are the Science Park of the Philippines, Inc., Sta. Clara International-Saekyung Realty, and Bangko Sentral ng Pilipinas for developments in New Clark City; and Ayala Land, Inc., Stern Real Estate, Top Taste and Trading, Inc., Amare La Cucina, and Prime Collective Corp. for developments in Camp John Hay.

BCDA said this development backs the government's bid for sustained domestic growth, job creation, regional development, and improving the investment climate. 'As we drive progress in Central and Northern Luzon, we are proving that government-led development can attract private capital, unlock economic potential, and transform entire regions,' Bingcang added. The agency's end-July output 'underscores the growing momentum behind public-private partnerships in transforming government-owned developments into engines of economic growth.'