100 US firms express interest in Clark investment

THE Bases Conversion and Development Authority (BCDA) said that over 100 US companies have expressed interest in establishing connective infrastructure, information and communications technology, and critical minerals operations in the Clark area.

“From a former US air base, Clark has grown into the top tourist destination and investment hub in Central Luzon,” BCDA President and Chief Executive Officer Joshua M. Bingcang said in a statement on Thursday.

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

The BCDA said that the US companies expressed interest during the Senior Leaders Seminar in Washington, DC, last month.

During the event, the BCDA pitched investment opportunities in New Clark City, Clark Freeport Zone, and Clark International Airport.

“These investment promotion efforts are consistent with Secretary (Frederick D.) Go’s push to attract more foreign capital and business expertise in critical sectors, including infrastructure, pharmaceuticals, and logistics,” Mr. Bingcang said, referring to the Cabinet official who heads the Office of the Special Adviser to the President on Investment and Economic and Affairs.

Among the projects the BCDA pitched were the 296.5-acre Filinvest Innovation Park in New Clark City, the $3.17-billion Subic-ClarkBatangas Railway System, and the $152-million Clark National Food Hub.

It also presented the $60-million expansion of the airside facilities at Clark International Airport, the $2-billion data center colocation facility, the $172-million solid waste management and waste-to-energy project in New Clark City, the $17.9-million solar photovoltaic power plant in New Clark City, and the $100-million Clark Integrated Public Transport System.

Mr. Bingcang and BCDA Chairman Delfin N. Lorenzana also met US Secretary of Commerce Gina Raimondo, who committed to pitching Clark as an ideal investment hub for US companies looking to expand in the Philippines.

Ms. Raimondo is set to lead a US trade and investment mission to the Philippines on March 11-12

Clark currently hosts US companies like Texas Instruments, FedEx, Hilton, UPS and Marriott.