In recognition of the significant role the Bases Conversion and Development Authority (BCDA) plays in the Philippine economy, Senate Bill No. 2647, a bill aimed at bolstering the agency has passed its third and final reading in the Senate on Monday, February 3, 2025.
The proposed measure is designed to allow full ownership of properties for residential, mixed-use, institutional, and industrial purposes within BCDA’s areas, including Clark in Pampanga and Tarlac, John Hay in Baguio, Poro Point in La Union, and Morong Discovery Park in Bataan. The initiative is expected to benefit workers in these zones and encourage migration from Metro Manila to provincial areas, ultimately fostering national development. By boosting investor confidence, the bill aims to stimulate economic activity and support sustainable growth in these regions.
One of the key provisions in the bill is the conversion of 5 percent of BCDA’s economic and freeport zones from leasehold to freehold status. This shift is a crucial step in unlocking new residential market opportunities. Currently, BCDA lands are restricted to leasehold agreements, which have limited housing developers. The conversion of these lands will not only create fresh business prospects and stimulate the housing sector, but will also offer residents the chance to own property, further solidifying communities while ensuring access to job opportunities in the economic zones.
BCDA President and CEO Engr. Joshua M. Bingcang expressed his gratitude to the Senate, particularly Senators Mark Villar and Alan Peter Cayetano, for their acknowledgment of BCDA’s contributions to the national economy, the Armed Forces of the Philippines (AFP) Modernization Program, as well as its role in job creation and regional economic growth.
“I extend my deepest appreciation to our esteemed sponsors, Senators Villar and Cayetano, co-sponsor Senator Loren Legarda, and the bill’s authors, Senators Jose Ejercito, Jr. and Francis Tolentino, for their steadfast support in advancing this critical legislation. This transformative bill will strengthen the BCDA in its mission to foster balanced regional development and promote inclusive growth throughout the country,” Engr. Bingcang said.
The bill also proposes an extension of BCDA’s corporate lifespan by 30 years, securing its continued role as a key player in nation-building.
Senator Villar, in a statement, highlighted the potential of the measure to enhance policy stability, thereby attracting greater investment. “This bill will provide the stability that investors seek, ensuring that the regulatory and policy framework remains supportive over the long term,” he said. Villar also noted that the extension of BCDA’s corporate life is essential in upholding long-term contracts, some of which stretch beyond BCDA’s current term, set to expire in 2042.
“It is a privilege for me to guide this bill through the Senate,” Senator Villar added.
The current 18-year corporate term was seen as a limitation in fostering sustained investments. By extending BCDA’s lifespan, the bill creates a stable and attractive environment for future partnerships, encouraging continued growth in key economic zones.
Senator Cayetano, in his sponsorship speech on September 11, 2024, underscored the strategic importance of developing the Bulacan and Clark economic zones: “If we develop Bulacan and Clark correctly, they could become the twin engines of development in our country, helping alleviate the urbanization pressures of Metro Manila and driving growth in Central Luzon.”
