The Bases Conversion and Development Authority on Monday said its joint venture agreement with MTD Capital Berhad for the development of New Clark City Phase 1A, which includes the sports facilities being used in the SEA Games, was implemented in the “most transparent” and “aboveboard” way possible.
Government Corporate Counsel Elpidio Vega and BCDA president and chief executive officer Vince Dizon stressed the partnership with the developer underwent all the legal requisites and processes, and that it was very advantageous to the government.
Dizon said, “the OGCC never gave an unfavorable opinion” in the January 30, 2018 contract review by OGCC.
“The OGCC gave its comments and suggestions to which BCDA addressed and clarified. The OGCC, in response to clarifications made by BCDA, unequivocally said that the ‘provisions of the executed JVA and the legal framework of the Project are in compliance with the existing laws, rules, and regulations’,” he said.
