Young people who were born and studied in Hong Kong are now voting with their feet, choosing to emigrate to other places and countries that offer a work-life balance that the Chinese territory could never provide. It was estimated that around 24,300 residents left Hong Kong in 2017, representing a five-year high. Immigration consultants predict an even higher trend of departures among citizens who have become too weary and depressed over the endless protests and political battles for greater freedom and, yes, a better way of life.
By the year 2047, the two systems, one country policy shall likely become a relic of the past, as China fully absorbs the vibrant territory as an extension of itself. Hong Kong residents who thought that China would morph into a humongous version of the popular city are now realizing that in all likelihood their vision was wrong. Clashes over the controversial extradition bill have shown the unbending side of China and the uphill battle for Hong Kong residents to maintain a status quo.
I think that there is an opportunity to be had here, and if properly done, the Philippines can offer the Bulacan-Pampanga-Tarlac corridor and the New Clark City as a viable investment and tourism destination that can rival Hong Kong, and even give Singapore a run for its money. We have ample time to prepare, and these three provinces in Central Luzon have so much to offer to jaded Hong Kong investors, tourists and permanent residents.
The New Clark City, which falls under the jurisdiction of the Bases Conversion Development Authority (BCDA), has an area of approximately 9,450 hectares and can easily accommodate up to 1.2 million. Its new Athletics Stadium is set to host from 20,000 to 50,000 foreign and local guests for this year’s Southeast Asian Games. All the facilities in the new sports complex adhere to world-class standards based on the guidelines of the International Association of Athletics Federations. The master plan for New Clark City was designed specifically to ensure that this metropolis would not end up as congested and chaotic as Metro Manila.
BCDA Chairman Greg Garcia told this writer that while Clark may not become the international financial hub that Hong Kong is known for, it would have its vibrancy and global outlook. “With an airport, and a thoughtful plan to be green and smart, it could be more of a Singapore. New Clark City, for example, will only develop 40 percent and keep 60 percent open space. But the airport will have the capacity of Hong Kong’s airport.”
The province of Bulacan will be equally as modern and economically attractive as San Miguel Corp. pushes through with the construction of a P734-billion international airport in the quiet, rustic town of Bulakan. The New Manila International Airport will have four runways, expandable to six, with a capacity of 100 million passengers every year. Alongside the airport project, San Miguel Corp. is also eyeing to build a coastal highway, an elevated train system, and a new seaport, thus transforming the historic province to a world-class commercial and transportation hub.
Meanwhile, the province of Tarlac will be home to the National Government Administrative Center at New Clark City. Phase 1 of the 200-hectare government center involves the development of back-up offices of various agencies to ensure continuous business operations and services for the people in case of disaster or national calamities. The second phase involves the construction of additional government buildings, public housing units and support service facilities.
This means that there will be ample government support easily extended to foreign investors that wish to relocate to Central Luzon’s most dynamic growth corridor. What lies next must be private-and public-sector investments in making sure that we have a sufficient talent pool for these new investors to hire and hone, thus facilitating a so-called brain gain that has proved elusive for our labor-sending economy. A more competitive curriculum combined with hands-on training geared toward the most modern workplaces of the future entails a convergence of efforts between industry and the educational sector. This alchemy would ensure that our demographic “sweet spot” would help the Philippines become Asia’s top commercial hub and the best alternative to Hong Kong even prior to the critical year of 2047.
The work-life balance that most Hong Kong residents and even Singaporeans long for, combined with affordable housing and educational opportunities, make us a competitive option. It is consistency of all these efforts over time that would make us an attractive and long-term investment hub. We just need to aim for the stars—and believe that this dream is indeed possible.
To quote Chairman Garcia: “Those three provinces—Bulacan, Pampanga and Tarlac—shall be growth centers. Individually strong, together awesome.”
Susan V. Ople heads the Blas F. Ople Policy Center and Training Institute, a nonprofit organization that deals with labor and migration issues. She also represents the OFW sector in the Inter-Agency Council Against Trafficking.