Pasay reclamation projects seen to generatejobs, P1.3 trillion revenue

MANILA, Philippines — More than one million jobs will initially be generated and over P1.3 trillion in revenue from investments will be collected from two Manila Bay reclamation projects in Pasay City alone.

This was declared yesterday by Pasay administrator Peter Manzano during the continuation of the hearing of the House committee on ways and means, chaired by Albay Rep. Joey Salceda, on the economic impact of the suspension of the reclamation projects approved by the Philippine Reclamation Authority.

Manzano noted that the Manila Bay reclamation under the Pasay Eco-City Coastal Development Projects could “easily generate over one million jobs and billions of pesos in taxes for the national and local governments.”

These jobs will come from construction, business processing outsourcing, retail, banking, hotels and restaurants, among others.

The Eco-City endeavor includes the 360-hectare reclamation project under a joint venture with SM Smart City Infrastructure and Development Corp. dubbed “Pasay 360.”

Manzano cited the case of the reclaimed land in Pasay for the Cultural Center complex and Mall of Asia where there is no evidence of “land subsidence.”

“Within 35 years, national taxes from investments from the reclamation projects may total over P1.3 trillion. The city’s real property and business taxes will also increase to P1.66 trillion,” he said.

President Marcos has suspended all 21 reclamation projects in Manila Bay pending the results of a cumulative impact assessment by the Department of Environment and Natural Resources.