CDC gets P43 M in new investments

MANILA, Philippines - Seven more firms signed lease agreements with the Clark Development Corp. (CDC) in February, committing P43 million worth of investment in the freeport zone in Pampanga.

CDC said the firms are expected to hire around 100 workers in the first year of operations.

Pax Americana Food and Leisure Corp. committed a P30 million investment for the establishment of a restaurant complex with support amenities.

Advantest Philippines Inc., which is engaged in electronics and semiconductor systems, committed a P10 million investment for the establishment of a sales and technical support unit for its customer base in the Philippines.

The support unit will provide services in installation, training, warranty support, maintenance and repair adhoc support of semiconductor test systems, electrical measuring instruments and related computer and software, and other services.

The other companies that committed invetsments were MStudy I-Communication Inc., JIMEI International Travel Company Inc., Smile Make Over Dental Clinic, Transmodal International, Inc., and Clark Dent Laboratory International Inc.

CDC said 36 investment projects have been made in the freeport zone since January.

The CDC in 2011 signed a total of 207 projects with total committed investment of around P23 billion that would provide employment to 8,206 workers.

Among the major investments signed last year included YTPI, which committed P14.620 billion and employment for 3,000 workers; SPT (Phil) Clark Corp. which committed P285 million and hiring of 138 workers; Bonsure Everrich International, Inc. that committed to pour in P192 million and employ 39 workers; and Jamco Philippines, Inc. which committed an investment of P171 million and employment for 68 workers.