Clark Freeport Zone is quietly transforming the economic lifeblood of the Luzon Beltway super region, thanks to the efforts of Clark stakeholders spearheaded by Clark Development Corp. president Levy Laus, who was instrumental in forging a common vision for the former US air base.

In less than six months, the giant US semiconductor firm Texas International (TI) is expected to churn out analog, digital and signal-processing chip technologies used in mobile phones, among other things, from its 8-hectare facility in the former US facility.

This is a sharp departure from the wrangling that hit the Clark facility following the withdrawal of tax incentives to Clark locators. It was during this time that an economic slowdown in the area was predicted when the locators threatened to go elsewhere. It is a good thing that President Arroyo stepped in and carved out the concept of “super regions.” Encouraged by the presidential proposal, Mr. Laus worked on toward reviving business in the area.

With a singular vision, he put forth what he now terms “milestone achievements” in the former US air facility. This was the conversion of Clark from an economic zone to a free-port zone, the grant of tax amnesty to Clark locators, the upgrading to world-class status of the Mimosa golf course, and the reclassification of Clark as a world-class investment and tourist destination. Mr. Laus’s mantra for the transformation of Clark can be summed up in two words: investments and tourism.

With his investments concepts, Mr. Laus and other stakeholders in the area charmed TI into locating there, in the process bagging the single-biggest investment ever made in the facility: $1 billion. The entry of the giant US semiconductor firm is now seen as a magnet for other big US companies to locate their production hubs, logistical-support facilities or regional support services there. Mr. Laus has reserved 22 more hectares for locators that would complement or supply products for the TI’s semiconductor products.

That investment focus for Clark has now given rise to a swelling of job opportunities. According to Mr. Laus, the employment in the area could rise by 58,000 as TI suppliers, call centers and other businesses start operations soon. Tourism traffic is also expected to receive a big boost as the infrastructure support, such as the Subic-Clark-Tarlac Expressway would soon be ready. Complementing the investment-cum-tourism mantra of Mr. Laus is the forging of a joint management agreement for the vast subzone area for the Aeta minority tribes which would effectively address their concerns.

The redevelopment at the Mimosa golf course also brings to the fore the tourism focus of the Clark Development Corp. Tourism creates jobs, and with that in mind, Mr. Laus is seeing to it that the area is developed to conform to ecotourism projects which are essential to the travel these days. By forging a common bond with the Aetas and assuring them of a role in the development of the area, the facility becomes conducive to tourists.

For Mr. Laus, the entry of TI into the Clark Freeport Zone was a “highwater mark” in the history of the facility. The $1-billion investment “put Clark on the global investment map, considering that TI is among the four leading semiconductor companies worldwide,” he said. “We are definitely bullish about Clark,” Mr. Laus said, pointing to the 400-percent surge in investments in the area to P90 billion last year. Now, the new focus of Mr. Laus is to entice more investors into Clark while wooing more tourist traffic. The two would ensure the economic transformation of the facility.

Security Bank cited

Security Bank, which topped the banking industry in terms of return on equity (ROE), with a precedent-setting 20-percent performance again showed its mettle, this time in the field of bond trading, with a citation from The Asset Magazine as the “best local currency bond-trading institute and most astute trader.” Asset Publishing and Research, the publisher of The Asset—Asia’s most respected finance magazine—and Asset Benchmark Research—a proprietary research and benchmark service—is a financial and research publishing group with operations globally and headquartered in Hong Kong.

Established in January 1999, the group’s mission is to serve as a bridge between the users and providers of financial services by supplying timely and in-depth analyses on key trends covering finance and banking; capital markets; asset management; treasury and risk; and structured finance. Asset Publishing and Research is pioneering “demand-led publishing” in which subscribers shape the content of the magazine, its web sites and research products.

Considered the largest-circulated finance magazine of its class to Asian issuers as well as the largest circulated finance magazine to global investors specializing in the Asian markets, The Asset’s citing of Security Bank’s preeminence in the field of bond trading means the bank is exploiting new areas of banking services in view of the difficult environment in the world of finance.

Asset Benchmark Research, a business-to-business exchange for providers and users of financial services, is now established as the most authoritative financial-research company in Asia. Every year, it conducts in-depth user surveys on a variety of subjects including the bond markets, the Asian currency bond markets, the equity markets, foreign exchange, corporate governance and investor performance, among others. It also organizes and conducts bespoke research for individual companies and financial institutions. 

E-mail: hugagni@yahoo.com

IF the so-called energy summit, set for January 29 to February 5, is to amount to anything, it must aim for something better than “ensuring the proper pricing of fuel.” Attributed to Energy Secretary Angelo Reyes, the sound bite belies his objective for the high-level meeting—which is essentially political.

The renowned marketing guru Philip Kotler and his co-authors wrote in their book Marketing Places:

“The fortunes of places depend in the final analysis on the collaboration of the public and private sectors—teamwork among governmental units, business firms, voluntary and civic associations, and marketing organizations. Unlike purely business or commercial product marketing, place marketing requires the active support of public and private agencies, interest groups and citizens.”

Gloria Macapagal-Arroyo did not celebrate the seventh anniversary of the day she seized the presidency from Joseph Estrada.

Market Files: Clark sets pace

Clark Freeport Zone is quietly transforming the economic lifeblood of the Luzon Beltway super region, thanks to the efforts of Clark stakeholders spearheaded by Clark Development Corp. president Levy Laus, who was instrumental in forging a common vision for the former US air base.

Sway: Credibility and business sense

It’s always important for any company to maintain a reputation of integrity and credibility, more so in a business environment plagued by corruption and questionable practices. At the very least, a business should be perceived by the public as honest and trustworthy—even if not all its practices meet the strictest of legal, financial and moral standards.

Willy Arcilla: High-blood peso: Treat the illness, not the symptom

Amid the severe impact of the peso’s rapid appreciation, our economic planners, businessmen and industrialists may find it helpful to take a fresh look at the issue, as physicians endeavor to cure the illness while addressing the symptoms.