LOCATORS at the Clark Freeport Zone signed 71 lease agreements with Clark Development Corporation (CDC) in 2016, committing to invest about $1.02 billion in the next 10 years, or nearly triple the amount recorded in 2015.
In its annual report released on Thursday, CDC said that the number of locators as of end-2016 stands at 895, up by 6 percent from the 2015 record.
The report said $923 million was committed last year by new investors with direct lease agreements with CDC, while subleases and those with Memoranda of Agreement committed investments of $97 million.
In 2015, locators with signed direct leases committed investment of $303 million, while those with subleases and MOA committed investment of $50 million, for a total of $353 million, CDC said in its report.
The increase reflects the “unperturbed confidence of foreign and local investors in the Philippines and this Freeport,” said CDC President and CEO Noel F. Manankilhas.
CDC also attributed the increase to the entry of more firms engaged in commercial businesses, which represent 32 percent of the total number of Clark enterprises. It said ICT (information and communications technology) firms comprise 24 percent while 23 percent are in the services sector inside the Freeport.
According to the report, the steady increase of locators started in 2009 when CDC recorded 449 locators, 464 in 2010, 537 in 2011, 606 in 2012, 679 in 2013, and 750 in 2014.