Inspiring growth in the regions

Espresso Mornings

Joe Zaldarriaga

BAGUIO CITY -- Last week, news of the landmark investment of business leader and philanthropist Manuel V. Pangilinan, or MVP in the development of Camp John Hay in Baguio made headlines—signaling optimism for enhancing the tourism and real estate potential of the iconic property.

    Through a 25-year lease agreement with the Bases Conversion and Development Authority (BCDA), the MVP Group will help revitalize Camp John Hay to boost economic activity not just in Baguio City but throughout north Luzon—spurring job creation and attracting more investments.

    MVP, in a statement, assured the public that they need not worry about the ensuing development in Camp John Hay since legacy properties will remain “protected and enhanced as cornerstones of Baguio history and tourism.” These include The Manor, The Forest Lodge at Camp John Hay, and the CAP-John Hay Trade and Cultural Center.

In fact, the BCDA described the MVP Group's involvement as a welcome development, highlighting the growing investor confidence in Camp John Hay. So far, the BCDA has secured at least two commercial lease agreements following the MVP Group's entry, and it is positive that more will express interest.

    But more than enhancing the tourism potential of Camp John Hay, the support of the MVP Group in its development is expected to result in long-term and wide-ranging economic benefits that go beyond Baguio for the benefit of the Cordillera region and even the whole country.

    MVP’s latest venture into Camp John Hay serves as a strong testament to the investment potential outside Metro Manila. This aligns well with the shifting economic landscape in the country to promote decentralization of business activity and boost opportunities outside of the Philippine capital. After all, Metro Manila for years has been the center and driver of economic activity—securing the lion’s share of foreign investments, infrastructure development, and job opportunities.

    It is high time that we highlight and promote business opportunities in the regions to achieve more equitable economic development across the country and empower regions and provinces to become more active contributors to national economic growth.

    In the case of Camp John Hay, development is expected in terms of infrastructure, and amenities for visitors but more importantly—this will create new job opportunities for residents of Baguio and surrounding areas who would otherwise need to find gainful employment in Metro Manila.

    Significant as well is the ripple effect on local businesses.

As Camp John Hay develops into a more attractive tourist and investment destination, small businesses like local restaurants and commercial stores in Baguio and surrounding areas stand to benefit from the increased foot traffic and consumer spending.

    With Camp John Hay’s positioning as a premier eco-tourism destination and the MVP Group’s strong commitment to sustainability, the development of the area can also serve as a model for other developments outside of Metro Manila to ensure balance and harmony between economic growth and environmental responsibility.

    In summary, more investors and business leaders should work together to promote equitable economic development in the regions to highlight the potential of our untapped resources and ensure inclusive growth for all Filipinos.

    More than the immediate economic benefits, regional development will be beneficial for the entire country in the long run as it will help make the economy more resilient by reducing national dependence on Metro Manila’s business activity.

    By accelerating investments in the regions and paving the way for the entry of more businesses in the provinces, our country embraces an inclusive development strategy that inspires investor confidence across the Philippines to benefit generations to come.