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Manila Bulletin devider Business devider Go: New Clark City to benefit from CREATE MORE bill

Go: New Clark City to benefit from CREATE MORE bill

Published May 17, 2024 06:56 am

Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go said that he is pushing for a bill that will help make Clark and New Clark City an attractive investment hub in the near future.

In a statement, Go expressed his support for the Corporate Recovery and Tax Incentives for Enterprises Maximize Opportunities and Reinvigorating the Economy (CREATE MORE) bill. Once enacted into law, it would help bring in more investors to New Clark City.

“These are the points that make Clark attractive as a destination: it offers the Clark Freeport Zone, the Clark International Airport, the Clark Global City, and New Clark City,” Go said during the One Clark Forum held by the Economic Journalists Association of the Philippines (EJAP).

The bill would further strengthen the fiscal and non-fiscal incentives, boost business partnerships, and encourage stakeholders to invest in priority projects within the economic and freeport zones.

Subsequently, the bill would also provide value-added tax (VAT) incentives and duty-free status to legal enterprises within the Clark Freeport Zone.

“We are committed to shepherding CREATE MORE until it becomes a law. CREATE MORE will continue to encourage potential investors, particularly in the semiconductor and pharmaceutical industries to locate and bring more jobs to Clark,” Go explained.

Keeping in line with the vision for a smart, green, and resilient metropolis for New Clark City, the BCDA President and Chief Executive Officer (CEO) Joshua Bingcang commended the government’s active support in the New Clark City developments.

“As investments and economic affairs czar, Secretary Go has recognized the value of Clark as a catalyst of economic growth, and has been purposely and actively promoting Clark and New Clark City whenever he meets potential investors abroad,” Bingcang said.

The BCDA and the economic czar have also affirmed the importance of partnering with different stakeholders through public-private partnerships (PPP) and the like.

Related Tags

New Clark City (NCC) Frederick Go BCDA
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