JOSHUA BINGCANG APPOINTED AS BCDA PRESIDENT AND CEO—Malacanang on June 6 announced the appointment of Joshua Bingcang as acting president and chief executive officer (CEO) of the Bases Conversion and Development Authority (BCDA), the parent company of the Clark International Airport Corportation.
An engineer by profession, Bingcang was senior vice president of the BCDA until his appointment in March as president and CEO of CIAC, another government-owned and controlled corporation.
The appointment of Engr. Bingcang to the BCDA position was signed by President Ferdinand R. Marcos, Jr. on June 2, 2023.
The BCDA welcomed the appointment of Bingcang who replaced Aileen Anunciacion Zosa for the post.
During his stint at BCDA, Engr. Bingcang managed and supervised some of the organization’s biggest development projects, such as the construction and maintenance of the Subic-Clark-Tarlac Expressway, the development of Clark Freeport Zone, the construction of first phase of the National Government Administrative Center in New Clark City, and the expansion of Clark International Airport, among others.
Engr. Bingcang also holds a Master’s degree in Business Administration from the University of the Philippines, attended an Urban Policy and Governance program at the Nanyang Technological University, and trained at the Harvard Kennedy School in Public-Private Partnerships in Infrastructure.
The BCDA also thanked former BCDA PCEO Zosa for her over 27 years of service and invaluable contribution to the state-run organization, bringing it to greater heights by ensuring continuing cash inflows from existing joint ventures, leases, and other income-generating activities of BCDA. One of which was through the development of Bonifacio Global City in Taguig City and Newport City in Pasay City.
Created under Republic Act 7227, the BCDA is a government-owned and -controlled corporation which transforms former military bases into centers of economic growth. It remits the largest portion of its disposition income for the AFP Modernization Program.
BCDA delivered a strong financial performance after its remittances to the national government reached Php 7.53 billion in 2022, an increase of Php2.94 billion or 64% from Php 4.59 billion in 2021. Bulk of BCDA’s remittances to the national government came in the form of disposition proceeds amounting to Php 6.38 billion. This amount came from the income generated by BCDA in 2021 from the sale, lease, or joint venture development of former military camps in Metro Manila, pursuant to Republic Act 7227 or the Bases Conversion and Development Act of 1992. It will then be allocated and distributed by the Department of Budget and Management to the Armed Forces of the Philippines and other beneficiary agencies.