Move over, Metro Manila. The country’s largest business group now views Bulacan as the next top investment destination with three major infrastructure projects set to be completed in the province over the next five years.
In a news statement issued on Monday, the Philippine Chamber of Commerce and Industry (PCCI) branded Bulacan as the next Philippine growth area. PCCI Chairman Emeritus Francis C. Chua said investors should now consider the Central Luzon province as a location for its new businesses, as the government is determined to decongest the capital.
Chua added it will benefit the population if businesses are more scattered, as job opportunities will be made available to those residing outside of Metro Manila.
“Other than proximity to Metro Manila, affordable land costs and adequate labor, investors are always on the lookout for provinces that are very aggressive in terms of infrastructure, and there is a consensus among our members that Bulacan is the next growth area,” Chua said.
The largest business network’s sentiment was echoed by its president, Maria Alegria Sibal-Limjoco, who pointed to Bulacan’s promising infrastructure projects as one factor for its investment potential. She cited the ongoing constructions of the Metro Manila Skyway, the Metro Rail Transit (MRT) 7 and the Bulacan Bulk Water Supply.
“Among our members, Bulacan province is high on the list of our new business locations for consideration. It is adjacent to Metro Manila, the land costs are still low compared to Metro Manila and there is adequate labor and ongoing construction of vital infrastructure,” Limjoco said.
The Metro Manila Skyway, or the Skyway Stage 3, is a 17.54-kilometer elevated toll road slated for completion in 2019, according to the web site of the public works department. It will connect the South Luzon Expressway in Alabang to Balintawak in Quezon City, leading to the North Luzon Expressway, a major road linking the capital to Bulacan.
Citing records from the public-private partnership (PPP), the Skyway Stage 3 is 41.62-percent complete as of May. For Chua, the elevated expressway will bypass the congested road network in Metro Manila and will secure a better transport of goods and services from Southern Luzon to Northern Luzon, and vice versa.
“We are very excited with the Skyway Stage 3 project, especially with the usual travel time for our deliveries from Metro Manila and Southern Luzon to be cut considerably for business locators in Bulacan and other areas of Luzon. That means lesser business costs,” Chua stated, noting it could also cut down motor traffic in Edsa and C-5.
The PCCI official also said the MRT 7 project will make Bulacan a viable business zone. He said investors may opt to locate their business expansion in the Central Luzon province given that workers from Metro Manila can travel easily or even move to Bulacan instead, to take advantage of the supposed lower cost of living there.
Apart from connectivity projects, Chua added, the Bulacan Bulk Water Supply project will bring treated bulk water to meet the demands of Bulacan residents and business establishments. Citing PPP figures again, he noted the water project is 75.93-percent complete as of June.
The PCCI is also closely monitoring the developments in the proposed New Manila International Airport of San Miguel Corp. The P735-billion airport project will feature a modern terminal, four runways with a provision of two more in the future, a road network, connection to the MRT and ferry services.