Senator Alan Peter Cayetano has filed a measure seeking to grant the Bases Conversion and Development Authority (BCDA) the power to assist the government, through the Department of National Defense (DND), in the creation of new military bases and facilities.
In filing Senate Bill No. 2647, Cayetano, who chairs the Senate Committee on Government Corporations and Public Enterprises, said it is essential to further empower the BCDA to transform former military bases into vibrant economic zones that benefit both the economy and the people.
“Since its establishment, the BCDA has been a stalwart in driving new investments and realizing master plans for cities and economic zones,” Cayetano said.
The senator cited projects such as the Bonifacio Global City (BGC), Clark International Airport, and Subic-Clark-Tarlac Expressway (SCTEX), as among the BCDA’s accomplishment.
The proposed amendments to Republic Act No. 7227 or the Bases Conversion and Development Act of 1992 are “crucial to maintaining investor confidence and facilitating the implementation of long-term infrastructure projects within BCDA economic zones,” according to the senator.
SB No. 2647 was prepared and submitted jointly with the Senate Committee on National Defense and Security, Peace, Unification and Reconciliation, chaired by Sen. Jinggoy Ejercito Estrada.
The bill primarily seeks to extend BCDA’s corporate term by another 50 years and increase its authorized capital stock from P100 million to P200 billion.
The measure also seeks to declare a certain percentage of the land area of each BCDA economic zone as alienable and disposable, authorizing its sale for residential use, mixed use, industrial and institutional purposes, and remitting a portion of net proceeds from land sales to the AFP (Armed Forces of the Philippines) Pension Fund.
Last year, BCDA officials called on the Senate to support proposals to amend the BCDA Charter.
BCDA President and Chief Executive Officer (CEO) Joshua “Jake” Bingcang had said BCDA’s contribution to the country “has just started.”
“With more challenges and opportunities, BCDA needs its charter to keep up with the needs of the country,” Bingcang said.
Cayetano said the proposed BCDA Charter amendment will be presented and discussed in the upcoming Senate deliberations.