Philstar
BCDA investment approvals seen to hit P70 billion this year
The Bases Conversion and Development Authority (BCDA) aims to double its investment approvals to P70 billion this year, projecting a significant increase from last year's P32 billion.
As of August, the BCDA has already approved P57 billion in investment pledges, putting it on track to meet its year-end target.
BCDA President and CEO Joshua M. Bingcang attributes this anticipated growth to the completion of more infrastructure projects, making the agency more attractive to investors.
This projected P70 billion in approvals would position BCDA as the third-largest approving body, following the Board of Investments and the Philippine Economic Zone Authority.
The BCDA also anticipates remitting over P100 billion to the National Treasury since its establishment in 1993.
Notable recent approvals include a P4-billion waste-to-energy project involving Indian firm Uttamenergy Ltd. and its Philippine partners.
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