Author: BCDA
Posted: October 03, 2016 | Category: Freeport And Ecozones
The Bases Conversion and Development Authority (BCDA) is not renegotiating the lease agreement for the 247-hectare John Hay Special Economic Zone (JHSEZ), which BCDA entered into with the Camp John Hay Development Corporation (CJHDevCo) in 1996.
According to the new management, BCDA is currently conducting an exhaustive review of the JHSEZ to ensure that all actions moving forward will protect the government’s interests and ensure the long term development of the area.
BCDA also denied that any decision to renegotiate the lease contract was ever made, as was reported in recent news.
The new BCDA leadership also stressed that it remains committed to working with local government units (LGUs) of areas covered by BCDA’s mandate, such as Baguio. BCDA continues to establish a transparent dialogue with LGUs to ensure their active participation in the development of these areas for the benefit of local communities.