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Manila Bulletin devider Business devider BCDA pitches eight Clark development projects to US companies

BCDA pitches eight Clark development projects to US companies

Aiming to boost Investments in the Philippines

Published Mar 7, 2024 05:51 am

The Bases Conversion and Development Authority (BCDA) has pitched eight Clark development projects to US companies in a bid to attract investments and elevate the Philippines as a top investment hotspot.

In a statement, Delfin N. Lorenzana, BCDA chairman, said that he presented projects valued at more than $5.6 billion to over 100 US companies, focusing on connectivity infrastructure, information and communications technology (ICT), and the critical minerals sector.

Lorenzana specifically outlined the BCDA's vision for New Clark City, Clark Freeport Zone, and Clark International Airport, emphasizing the potential for collaboration through public-private partnerships (PPPS).

The projects presented included the 296.5-acre Filinvest Innovation Park in New Clark City, the $3.17-billion Subic-Clark-Batangas Railway System, the $152-million Clark National Food Hub, and the $60-million expansion of airside capabilities at Clark International Airport.

Additionally, the lineup featured New Clark City's $2-billion data center colocation facility, the $172-million solid waste management and waste-to-energy project, the $17.9-million solar photovoltaic power plant, and the $100-million Clark Integrated Public Transport System.

After the business mission, Joshua M. Bingcang, BCDA president and chief executive officer, noted that an increasing number of US companies that are taking notice of the developments in Clark.

“With significant developments happening in Clark, many US companies are taking notice. This is why they want to have a big role in Clark,” Bingcang said.

According to the BCDA, the mission which drives more foreign investments was part of the efforts of Secretary Frederick Go of the Investment and Economic Affairs.

“These investment promotions efforts are consistent with Secretary Go’s push to attract more foreign capital and business expertise in critical sectors, including infrastructure, pharmaceuticals, and logistics,” the BCDA chief added.

Additionally, BCDA delegates met with US Secretary of Commerce Gina Raimondo, who will lead the US Presidential Trade and Investment Mission to the country starting March 11 to 12.

“US Secretary Raimondo declared her commitment to pitch the whole of Clark as an ideal investment hub for US companies eyeing to expand their business in the country,” said the state-run enterprise.

Since last year, the BCDA has welcomed over a thousand companies to Clark, including Texas Instruments, FedEx, Hilton, Nestle, UPS, and Marriott.

Related Tags

New Clark City Clark Airport Filinvest United States Public Private Partnerships BCDA
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