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WHEN Pagcor chairman and CEO Efraim Genuino put it about that he
aims to make the Philippines the next “Entertainment Center in
Asia,” eyebrows were indeed raised especially since Macau and
Singapore appeared to be racing ahead on that front.
The idea may seem too lofty for a country
plagued with economic and political woes but, Genuino is more than
determined to turn this dream into reality.
This early, supporters of Pagcor’s Tourism
City project are seeing more than just a new attraction for
tourists. The project also means more revenues for national coffers
through the infusion of foreign investment, creation of employment
opportunities for Filipinos, and a revitalization of the Philippine
tourism industry.
It is indeed a grandiose plan especially if you
hear them making comparisons with established entertainment centers
like Las Vegas and Macau. The US$15-billion Pagcor project is said
to include luxury hotels, museums, theaters, arcades, wellness spas,
malls, sports arenas, residential villages, a golf course, a
state-of-the-art monorail system, theme parks, and lots of other
commercial facilities that will complete an integrated recreation
and leisure complex.
That’s not all. It will also include
retirement homes and medical facilities, a marina, waste management
facilities, and an observation tower.
The projected number of jobs to be generated for
this entertainment complex is expected to be more than 250,000. This
sounds good for all the waiters, sales people, nurses, caddies,
chefs, and all other professionals and skilled workers that the many
establishments within the complex will need for full operation.
That’s in addition to the engineers, architects, construction
workers who will be involved in building the giant complex.
There are currently four major investors eyeing
the project. They include Genting Berhad of Malaysia (in a joint
venture with Alliance Global Group, Inc.), SM Investments Corp. (in
a tie-up with Asia Pacific Gaming Corp. of Australia), Aruze Corp.
of Japan, and Bloombury Investments of the British Virgin Islands.
Project proposals have already been submitted by
the investors, which include a giant Ferris wheel to be named (like
the famed London Eye) as the Manila Eye, a Hollywood-themed
amusement park, Star Cruises, and a hotel resort facility.
Prominent government officials and personalities
have expressed their support to this project. Sen. Juan Ponce Enrile
believes that this project is the answer to Filipino poverty. Along
with this line of thought, Parañaque Rep. Eduardo Zialcita and
Mayor Jun Bernabe both agree that the employment opportunities
presented by this project are tremendous.
On the tourism side, former First Lady Imelda
Marcos points out the project’s capacity of creating “a city
that will bring joy and beauty to the world.”
It all seems like the Tourism City is indeed the
answer to many people’s dreams, however, there are stark social
issues that need to be addressed.
But Pagcor already knows this by heart. That is
why, for years, it has been extra keen on changing the people’s
perception of the state-run gaming firm as a money machine with no
conscience to a socially-aware and responsible government
institution.
Certainly, its contributions to the upliftment
of the lives of the people, particularly in the aspects of health,
livelihood, community development, peace and order, among others,
cannot be overlooked. And the same can be said of its commitment to
promote responsible gaming.
The Philippines has for too long been somewhat
fickle with how it wants to achieve the progress it so desires,
thereby stunting its own development. But with this project, the
Philippines may well experience its most significant turnaround yet.
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