The Bases Conversion and Development Authority (BCDA) vowed to transform New Clark City in Tarlac into a leading industrial hub that will attract both local and foreign investors.
In a statement, Joshua M. Bingcang, BCDA president and chief executive officer, affirmed this commitment following President Marcos’ meeting with Singapore Prime Minister Lawrence Wong.
During recent discussions between the two leaders, Marcos emphasized New Clark City as an attractive prospect for Singaporean investors.
Marcos conveyed to Wong the Philippines’ plan to develop New Clark City into a thriving industrial center open to Singaporean investment opportunities.
“With his [Marcos] support, we can certainly attract more investors to choose this area as they pursue expansion and investment opportunities,” Bingcang said.
“On the BCDA’s part, we commit to develop New Clark City according to the masterplan, with the vision of creating the country’s green, resilient, inclusive, and smart metropolis,” he added.
“We want to position New Clark City as an investment haven and tourist destination,” the BCDA official further stated.
Situated within the Clark Special Economic Zone, New Clark City spans 9,450 hectares and is designed to be an inclusive, resilient, sustainable, and smart city.
This urban project aims to alleviate congestion in Metro Manila while functioning as a hub for investment to drive economic growth in Central Luzon.
Leveraging Singapore's expertise in smart city development, BCDA has engaged Surbana Jurong from Singapore to collaborate on crafting New Clark City's Comprehensive Master Development Plan.
Also involved in the masterplan were the Japan Overseas Infrastructure Investment Corporation for Transport and Urban Development, AECOM, Nippon Koei, and Philkoei International.