CDC expects creation of 75, 000 more new jobs over next seven years

CLARK FREEPORT, Pampanga –Some 75, 000 jobs are seen to be generated over the next seven years in this Freeport following the contract between the Clark Development Corporation (CDC) and the Singapore-based firm Capilion Corporation PTE Ltd .

Capilion has poured an initial investment of PHP2 billion with programmed investment up to PHP7 billion over a period of seven years to develop a mixed-use facility for business processing outsourcing (BPOs), offices and tourism facilities inside the Freeport.

The major contract was highlighted in the CDC mid-year report for 2014 that also featured the state-owned firm’s significant gains in cash dividends pegged at PHP220 million, the highest single-year remittance so far in a seven-month period, and a first in the history of CDC.

Revenues and income were also high maintaining the CDC’s cash position of PHP2 billion for the first half of the year, according to the report.

Meanwhile, the Singapore firm’s expansion project which will cover the three hectare facility of the Freeport will be done in three phases, with the actual operation to take effect in 2017.

Earlier, CDC president and CEO Arthur Tugade said the state-owned firm will break its target of employing 100, 000 workers by 2016 with the entry of the Singapore-based company.

In addition to the job opportunities at Capilion, CDC is relying on other locators who are also expanding their operations in Clark.

Among the notable locators are Asian Sports Apparel, Omnitech Customers Focus and Shogun International.

Local businesses like Matam-Ih has poured fresh capitals of P7 million.

Other businesses are Stotsenberg Medical Center, Inc.

, PHP24 million; Prudence Development and Management Corporation, a production and storage of tobacco products, PHP200 million; Quarterline Foods Corporation, a restaurant business, PHP15 million; and Pax American Food and Leisure Inc. (PAFLI), an all American restaurant, with PHP2.5 million investments.

A total of 6, 300 employment opportunities would come from these industries, the report said.