BCDA triples investments in Q1 2025 to P7.7-B; U.S. reinforces backing for Luzon Economic Corridor

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00:00The prime mover of national development that transformed former military bases and properties into premier centers of economic growth has tripled its investments in the first quarter of the year.

00:13This and more in tonight's Business Wrap from the Philippine News Agency.

00:17In our business news, the Basis Conversion and Development Authority or BCDA has tripled its investments in the first quarter of 2025 to P7.72 billion from P2.49 billion last year.

00:39BCDA President and CEO Joshua Bingkang said this was brought by the surge in investments in properties of government-owned and controlled corporations, particularly the new Clark City in Tarlac and Camp John Hay in Baguio City.

00:55Local investors poured in P5.81 billion while foreign investors contributed P1.91 billion.

01:03The Science Park of the Philippines previously signed a 50-year lease with BCDA to develop a 100-hectare industrial park in New Clark City worth P2.7 billion.

01:16A Filipino-South Korean consortium also announced a P4.8 billion housing facility, a portion of which will support President Ferdinandar Marcos Jr.'s pambansang pabahay para sa Pilipino program.

01:30In Camp John Hay, four local firms committed new investments in food and hospitality following BCDA's recovery of the 247-hectare property.

01:42Meanwhile, the United States has expressed continued support for the Luzon Economic Corridor or LEC despite the Trump administration's order to stop government financing programs in different countries.

01:54Special Assistant to the President for Investment and Economic Affairs, Frederick Goh, said the U.S. Trade and Development Agency has increased its grant funding for the pre-feasibility study of the Subiclark Manila Batangas Cargo Railway from $2.5 million to $3.8 million.

02:13Goh said increased grant for this SCMB study reflects growing investor confidence as well as Washington's continued support for the Philippines' development priorities.

02:26The SCMB fried rail is the flagship project of the LEC which seeks to link key industrial and trade zones in Subic Bay, Clark, Manila, and Batangas.

02:38And that's the latest business news from the Philippine News Agency.

02:44This is Marita Muahe for Balitang Pambansa.

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