No firm timeline for Pax Silica deal — BCDA

The Bases Conversion and Development Authority (BCDA) has no definite timeline for the proposed agreement under the United States-led Pax Silica initiative, with the next steps still subject to decisions beyond the agency's control.

Speaking to reporters on the sidelines of the Annual General Membership Meeting of the Shareholders' Association of the Philippines on Tuesday, BCDA President and CEO Joshua M. Bingcang said he was no longer involved in finalizing the signing date and could not provide a firm schedule.

“Nothing concrete, nothing is finalized,” Bingcang said. “We want this project to push through starting with the signing of an agreement.”

Asked whether BCDA was still waiting for additional requirements, Bingcang said there was nothing outstanding on his end.

He also declined to express optimism about the proposed agreement, saying the decision was not his to make.

Pax Silica is a US-led initiative focused on strengthening cooperation in artificial intelligence, semiconductors, critical minerals and other strategic technologies.

In his fifth State of the Nation Address, President Ferdinand R. Marcos Jr. pitched Pax Silica as the centerpiece of the country’s bid to become a major player in the global artificial intelligence and advanced manufacturing industry.

Marcos said the US-led, 23-member Pax Silica initiative would enable the country to “strive for bigger and greater things” by “venturing into areas heretofore unimaginable.”

The proposed 1,620-hectare hub in New Clark City, Capas, Tarlac, is also expected to become a strategic component of the Luzon Economic Corridor, serving as an advanced manufacturing and logistics center in the global AI and technology value chain.

According to the BCDA, the project could generate up to P180 billion in annual revenues and nearly 200,000 jobs.