Thu, 22 Oct 2020

Central Luzon eyes integrated plan for proposed investment corridors

Philippine Information Agency
06 Oct 2020, 00:38 GMT+10

CITY OF SAN FERNANDO, Pampanga, Oct. 5 (PIA) -- Central Luzon presently formulates an integrated plan for proposed investment corridors.

In his message during Friday's virtual meeting, Regional Development Council Chairperson and Bataan Governor Albert Raymond Garcia said this aims to accelerate the rebound, sustain the region's growth momentum and further address future development challenges.

"Otherwise known as 3IDP, this master planning activity intends to provide a strategic framework for identifying the industries best fitted to locate in the various parts of the region, as well as the infrastructure requirements which will guide national government agencies and local government units in the preparation and approval of plans, policies, programs, projects and activities," Garcia explained.

The project will also lay down the proposed legislative agenda that would attain the ultimate goal of improving the competitiveness of Central Luzon as an ideal investment destination in the country and in the Asia-Pacific region.

At present, consultants have proposed seven corridors which could serve as springboards of economic growth when the full recovery under the new normal environment begins namely Production Network Agglomeration; Manufacturing Agglomeration; Higher Value Chain and Transshipment Network Integration; Information Network; Ecotourism and Cultural Heritage Network Integration; Natural, Sun and Beach, and Surfing Network; and Transit Network.

Production Network Agglomeration targets high volume and value crops production, post-harvest facilities, agri-fisheries support industries and farm machineries.

Manufacturing Agglomeration, on the other hand, is focused on special economic zones, industrial parks and heavy, medium and light industrial estates.

Moreover, Higher Value Chain and Transshipment Network Integration concentrates on Food Exchange (FoodEx) Center, storage/warehouses, trucking, seaports and airports.

Meanwhile, Information Network is centered on state universities and colleges, the National Government Administrative Center in New Clark City, business process outsourcing, information and communications technology, and research and development.

Both Ecotourism and Cultural Heritage Network Integration and Natural, Sun and Beach, and Surfing Network are into accommodations, landmarks and shrines and tour/travel operators.

And lastly, Transit Network includes the Clark International Airport, New Manila International Airport, PNR Clark and MRT 7.

"Indeed, the 3IDP is one of the region's means to tackle many predicaments in order to keep the economy strong and afloat. Sa pamamagitan ng pagsusuri na ito, inaaral natin ang posibilidad na bumuo ng mga pasilyo ng pamumuhunan at komersiyo na susuporta sa layunin na lumikha ng marami pang trabaho at iangat ang antas ng pamumuhay ng ating mga ka-rehiyon (Through this, we studied the possibilities of creating corridors of investment and commerce that would support our goal of creating more jobs and raise the standard of living of the people in the region," Garcia said.

He emphasized that slump from the COVID-19 pandemic is bottoming out. The positive signs of economic turnaround are gradually increasing. The prospects for economic growth, therefore, remain strong.

"I therefore call on to all of you to work harder and support our pursuit for equitable growth and development in Central Luzon. Only through our concerted and collective efforts could we really hope to achieve our vision for the region and cement a sound and bright future for all generations," Garcia told members. (CLJD-PIA 3)

More Beijing News

Access More

Sign up for Beijing News

a daily newsletter full of things to discuss over drinks.and the great thing is that it's on the house!