NEW CLARK CITY, Tarlac — The Bases Conversion and Development Authority (BCDA) said Sens. Alan Peter Cayetano and Mark Villar cited its contributions to the Philippine economy, and that the two are also backing plans to amend the BCDA Act of 1992. The BCDA added that once amended, the law would enable it to further unlock the potential of its economic zones and enable the government-owned and controlled corporations (GOCC) to contribute more to the national coffers. On Wednesday, Cayetano sponsored Senate Bill (SB) 2647 under Committee Report 250 titled 'An Act Strengthening the Bases Conversion and Development Authority' that will pave the way for the amendment. Cayetano cited BCDA's track record in developing well-planned economic zones like the Bonifacio Global City in Taguig; Newport City in Pasay; Clark Freeport Zone in Pampanga; Poro Point in La Union; John Hay Special Economic Zone in Baguio; Bataan Technology Park in Bataan; and New Clark City (NCC) in Tarlac — which continue to drive economic growth and generate job opportunities for the Filipinos. 'If we develop [the] Bulacan and Clark economic zones correctly, it could really be a twin engine of development in our country, and it could really pull the massive urbanization out of Metro Manila and spur development in Central Luzon. Iba po sa [It is different in] BCDA. I see the 'Bases,' I see the 'Conversion,' I see the 'Authority,' and I really do see the 'Development,' he said. Currently, the BCDA is implementing the expansion of the Clark International Airport, developments of Clark Central Business District in Pampanga and Bonifacio Capital District in Taguig, full transformation of NCC, as well as the seaport modernization in Poro Point, among others. Investor confidence, job generation Meanwhile, Villar also noted the major contributions of BCDA to the national coffers, Armed Forces of the Philippines (AFP) Modernization Program, as well as job generation and economic development in different parts of the country. Villar is the chairman of the Senate Committee on Government Corporations and Public Enterprises and co-sponsor of SB 2647. He noted that from May 1993 to March 2024, BCDA saw its total contribution to the AFP Modernization Program and replication of military facilities equate to P62.64 billion where P51.53 billion went to the said program while the remaining was for the replication efforts. 'As we recognize these accomplishments of BCDA over the years, we must fully support the amendments to the BCDA Law to further strengthen its mandate and expand its reach,' said Villar. 'Help me help the ordinary Filipinos uplift their standards of living by pushing for these amendments for BCDA and each Filipino who will be at the receiving end of the benefits of the proposed changes,' added Villar. At present, BCDA developments provide around 400,000 jobs in Tarlac, Pampanga, Baguio, La Union, Bataan, and Taguig projects and are expected to reach over one million upon the full development of the economic zones it owns and operates. Once passed into law, the bill will extend BCDA's corporate term for another 50 years from its current remaining corporate life of 19 years. 'The extension of its term also bolsters BCDA to enforce existing contracts spanning decades and beyond its current corporate life... It provides a clear signal to the private sector and international investors that BCDA will continue to be a dependable long-term partner in enforcing contractual obligations,' added Villar. The bill also aims 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. This will mobilize residential and affordable housing development in BCDA economic zones, providing workers the convenience and opportunity to own a property that they can pass down to their children or family members.