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Manila Bulletin devider Business devider BCDA, UAE delegates discuss New Clark City investments

BCDA, UAE delegates discuss New Clark City investments

Published Nov 28, 2023 07:34 am

At A Glance

  • Bases Conversion and Development Authority (BCDA) met with United Arab Emirates (UAE) business delegates to discuss investment opportunities in New Clark City<br>UAE Investment Mission to the Philippines attracted interest in health, renewable energy, logistics, and food security sectors<br>New Clark City development showcased as a hub for investment opportunities aligned with UAE's priority sectors<br>Delfin Lorenzana, BCDA chairman, discussed potential cooperation and bilateral agreements with UAE Minister for Foreign Trade and State Minister<br>BCDA previously engaged with Arab investors for New Clark City projects<br>BCDA encouraged UAE support for Philippine operations, particularly in the ICT sector

State-run Bases Conversion and Development Authority (BCDA) met with business delegates from the United Arab Emirates (UAE) to explore investment opportunities in New Clark City.

During the UAE Investment Mission to the Philippines, Arab businesses and sovereign wealth funds showed interest in investing in different sectors, namely in health, renewable energy, logistics, and food security.

The BCDA showcased the development updates within New Clark City and said that it would be a hub for these opportunities as the projects were in line with the delegation’s priority sectors.

According to the agency, possible areas of cooperation and final bilateral agreements were discussed by Delfin Lorenzana, BCDA chairman; Thani Bin Al Zeyoudi, the UAE Minister for Foreign Trade; and State Minister Ahmen bin Ali Al Sayegh.

Last year, the BCDA held a similar business-to-business meeting with Arab locators and investors to set up shops in New Clark City.

Along with that, the development authority encouraged the UAE to support Philippine operations, specifically within the information and communications technology (ICT) sector. (Gabriell Christel Galang)

Related Tags

Bases Conversion and Development Authority (BCDA) New Clark City foreign investment
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