Manila Bay reclamation project will bring jobs, revenue, says firm

Philippine Daily Inquirer

MANILA, Philippines?A multi-use development project on a proposed reclamation site on Manila Bay is expected to provide up to 600,000 jobs that would help ease unemployment in the country, particularly in Metro Manila.

In a statement, the Manila Gold Coast Development Corp. (MGCDC), owned by the family of businessman William Tieng, said that up to 100,000 jobs would be generated during the construction phase of the project and up to 500,000 jobs once it becomes operational.

The project, envisioned to become a world-class commercial, residential and tourism center 600 meters into Manila Bay, has been touted by MGCDC to be a rich revenue source.

In its statement, MGCDC said the project would generate up to P17 billion in taxes every year on top of P10 billion in real estate taxes for the local government of Manila, which has jurisdiction over the reclamation site.

The project reportedly has the support of the Manila City government.

The statement quoted Mayor Joseph Estrada as saying that the project, called Manila Solar City, would be crucial to reversing the deterioration of the city.

?Right now, studies show that Manila has the most jobless people. A hungry stomach knows no law. Through this we can provide employment and (thus) eliminate criminality,? Estrada was quoted as saying.

Source: http://business.inquirer.net/136637/manila-bay-reclamation-project-will-bring-jobs-revenue-says-firm

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