Despite the crisis that badly hurt the electronics sector, investments in Clark Freeport continue to rise although at a slower pace.

This was revealed by Benigno N. Ricafort, president of Clark Special Economic Zone, to reporters at the sideline of the Philippine Economic Briefing.

According to Ricafort, cumulative investments as of the first half this year amounted to P77.45 billion.
Committed investments for implementation for the first nine months this year have reached P5.095 billion. Actual cumulative investments as of 2008 were at P71.25 billion.

Actual cumulative employment in the freeport as of the first quarter this year have reached 55,031. Committed positions to be filled up from January to September totaled 2,446.

In terms of exports, the freeport has exported a total of $624 million in the first nine months this year. Exports reached $949 million in 2008.

Ricafort also reported that 28 company locators have suffered financial difficulties as of August last year and 20 firms have been rehabilitated as of July this year.

Of the $1.5-billion investments by Texas Intruments, Ricarfort said that only $300 million so far have been poured in. The rest would be invested in phases.

Ricafort said that Texas is now gearing up for its full commercial operation, which is slated first quarter of next year.

“Texas Instruments is now hiring and training employees,” he said.

Ricafort said that Clark’s location gets a big boost following the harmonizationof the regulatory systems with Subic or the Clark-Subic Synergy following the full operation of the Subic-Clark-Tarlac expressway.

Both freeports are jointly undertaking marketing and promotion activities. They have also aligned their respective master plans.

Ricafort said that Clark would be promoted as business center for techno industries that leverage on the faster turnaround provided by the Diosdado Macapagal International Airport and SCTEX.