BCDA president Joshua Bingcang to lead PEZA, says DOF chief

Bases Conversion and Development Authority president and CEO Joshua "Jake" will be transferred to head the Philippine Economic Zone Authority, Finance Secretary Frederick Go said on Thursday.

At a press conference, Go said Bingcang will “bring his expertise to the second largest investment promotion agency.”

Asked if the Pax Silica project will be affected by the leadership change in the BCDA, the outgoing BCDA chief said the initiative is being backed by the national government.

“It's the national government's thrust and decision points,” Bingcang said.

“If the benefit is for the greatest good of the country, of course, it's a no-brainer,” he added.

The BCDA had earlier stated that the Philippine side, negotiating with the US on the final framework agreement to hit the ground running for the Pax Silica, will push for a deal that would be most beneficial for the country.

Bingcang, during the hearing, clarified that negotiations are still ongoing between the Philippines and American sides for the project, reiterating that there is no definite date yet signing of the legal framework for Pax Silica.

The Department of Trade and Industry (DTI), on the other hand, expressed optimism that the legal framework for the initiative will be inked by the end of 2026.

This came after US Ambassador to the Philippines Lee Lipton announced, over the weekend, that there is no scheduled announcement for the Pax Silica initiative in the upcoming Association of Southeast Asian Nations (ASEAN) Summit in Manila —during which US President Donald Trump will be attending.

Philippine officials are expected to include a clause that explicitly preserves sovereignty over projects in the Pax Silica initiative in New Clark City, stating that expatriates employed in the area will have no diplomatic immunity.

Pax Silica is the US Department of State's flagship initiative on artificial intelligence and supply chain security, aimed at advancing a new economic security framework among allies and trusted partners.

The Philippines in April officially joined the Pax Silica initiative, cementing its place among other 23 global signatories, including the European Union, Japan, India, Singapore, South Korea, and the United Kingdom.

As part of the initiative, Manila and Washington are working to establish a 4,000-acre industrial hub that is envisioned as a new model for AI-focused investment within the Luzon Economic Corridor.

The BCDA chief earlier clarified that the Pax Silica hub is not envisioned as a cluster of hyperscale data centers but as an industrial hub that would include the manufacturing of semiconductors and microchips used in computers, laptops, electric vehicles, and other technologies. —NB, GMA News