Manila: Malaca±ang on Thursday expressed confidence that concerns surrounding the proposed Pax Silica project would not dampen investor confidence, stressing that the government is carefully addressing issues raised by stakeholders. In a press briefing, Palace Press Officer Claire Castro said the government remains open to refining certain provisions of the project to ensure greater benefits for Filipinos and project partners.

According to Philippines News Agency, Castro emphasized that for those raising concerns about possible problems involving water supply and electricity, the government is taking all of those issues into consideration. Castro stated that there is always a possibility that some provisions may be modified if changes would result in greater benefits for the Filipino people, the country, and project partners.

Castro reassured that the government is committed to ensuring the project's success while addressing issues raised by stakeholders. She noted that the government's ongoing efforts to refine the project would not create uncertainty among investors. Additionally, she encouraged stakeholders to coordinate with concerned government agencies to address any questions and concerns regarding the Pax Silica initiative.

Castro highlighted that the Bases Conversion and Development Authority (BCDA) has already conducted initial consultations with local government units and government agencies on New Clark City's development plans, including the proposed Pax Silica project. Citing the BCDA's statement, she mentioned that consultations with stakeholders are ongoing as the project progresses.

Currently, BCDA is undertaking ground assessment activities in the area to ensure that planning and decision-making are based on accurate assessments on the ground, conducted in a responsible and orderly manner. Pax Silica is envisioned as a high-tech manufacturing and innovation hub under the Luzon Economic Corridor, aiming to position the Philippines as a key player in global supply chains for semiconductors, artificial intelligence, and critical minerals.

The BCDA previously stated that the initiative could attract between USD40 billion and USD70 billion in investments once fully developed, creating up to 190,000 high-quality jobs for Filipino engineers, researchers, computer science graduates, and other highly skilled professionals.