John Hay firms side with BCDA
(The Philippine Star) - January 25, 2016 - 9:00am

MANILA, Philippines - The Bases Conversion and Development Authority (BCDA) said more business locators are now recognizing its authority over the John Hay Special Economic Zone as more firms and locators doing business in the economic zone have entered into lease agreements with the state-owned corporation.

In a statement over the weekend, BCDA said Inbound Pacific Inc., operator of the Mile-Hi Center and Cantinetta Restaurant in the economic zone, have recently signed two lease agreements for a total contract price of P60.52 million.

Inbound Pacific’s first contract involves the lease of the 6,275-square meter Mile-Hi Center comprised of retail and restaurant facilities, while the second contract involves the lease of the 261-square meter Cantinetta Restaurant and Café within the John Hay Special Economic Zone.

“The firms have recognized that CJHDevCo (Camp John Hay Development Corp.) has been divested of its authority to manage and administer the John Hay Special Economic Zone and want to merely protect their investments, thereby preferring to do business directly with BCDA,” BCDA president and CEO Arnel Paciano Casanova said.

Casanova said the Sobrepeña-led CJHDevCo has no more authority over the John Hay Special Economic Zone as it operates without a legal basis.

He added that CJHDevCo could no longer avail of fiscal and non-fiscal tax incentives offered in the economic zone.

“The business locators now recognize BCDA’s authority over John Hay after the lease agreement of CJHDevCo has been rescinded by virtue of the Final Award rendered in the arbitration under the Philippine Dispute Resolution Center Inc.,” Casanova said.

“We are taking control of the camp and the businesses are voluntarily signing up with BCDA. This affirms that the Sobrepeña-led CJHDevCo has no more authority to do business inside the John Hay Special Economic Zone,” he added.

Casanova said the new lease contracts with Inbound Pacific mark the start of a “new and favorable business environment” in the economic zone.

He said other firms have also expressed their interest to sign and invest with the BCDA.

“We welcome Inbound Pacific and we look forward to working with them towards the development of the John Hay Special Economic Zone into a wholesome family-oriented tourism complex,” Casanova said.

 

ACIRC ARNEL PACIANO CASANOVA ATILDE BASES CONVERSION AND DEVELOPMENT AUTHORITY BCDA ECONOMIC HAY INBOUND PACIFIC JOHN JOHN HAY SPECIAL ECONOMIC ZONE ZONE
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