MANILA The government's commitment to get things done when it comes to President Rodrigo R. Duterte's Build, Build, Build infrastructure campaign has become a magnet to foreign investors, the Bases Conversion and Development Authority (BCDA) said.
The BCDA, one of the lead agencies tasked to deliver high-impact infrastructure projects, has partnered with Malaysia-based MTD Capital Berhad in building the iconic government center in New Clark City (NCC).
MTD Capital, the parent company of AlloyMtd Philippines, won the bid to construct the 220-hectare National Government Administrative Center (NGAC), which broke ground last January.
The NGAC involves the development of back-up offices of various government agencies to ensure continuous business operations in case of calamities and disasters.
Phase 1A of the project, which covers 40 hectares, also features the construction of world-class sports facilities to be used for the Southeast Asian Games in November 2019.
The NGAC, modeled after Malaysia's Putrajaya and Sejong City in South Korea, is hoped to help ease the traffic gridlock and overpopulation in the capital.
According to BCDA, the investment of MTD Capital, an infrastructure giant, shows not only the vibrant bilateral relations between Malaysia and the Philippines, but an improved business climate as well for foreign investors in the Philippines.
Early this month, the US News and World Report said the Philippines ranked first in the list of best countries to invest in.
BCDA said the ranking complements the agency's vision of making Clark the next premier investment center in Asia.
BCDA added that the projects lined up for Clark is also a testament to the administration's promise of inclusive growth by increasing government spending on infrastructure, and creating jobs and opportunities outside the capital region.
Aside from the NGAC and NCC, BCDA's priority projects include the expansion of the Clark International Airport and the Subic-Clark railway. (PR)
Source: Philippine News Agency