Clark’s Q1 2024 investments soar to P44.5B
CLARK Freeport has exceeded its investment targets, securing a substantial P44.5 billion; all sealed within the first quarter of this year.
This achievement is attributed to the dynamic investment climate in Clark under the well-defined vision and direction of President Ferdinand Marcos Jr.’s administration, said Clark Development Corp. (CDC) President and Chief Executive Officer Agnes Devanadera.
The reported investments are direct leases with CDC and align with the priorities set by the office of Secretary Frederick Go, special assistant to the President for investment and economic affairs.
Go expressed gratitude to investors during the meeting for their continued interest in investing in the Philippines.
The investments consist of expansion projects by existing locators and investments from new ones, to be infused this year and spread over phases as specified in their contracts with CDC.
Among those who participated in the meeting with Go were foreign investors.
Yokohama Tire Philippines Inc., for instance, will infuse an additional investment of P3.5 billion to expand manufacturing operations and daily output capacity within the Freeport.
Local investors are earmarking P5.56 billion for service improvement projects.
With these investments and expansions, Clark anticipates adding 5,833 employees to its workforce.
Development projects, including President Marcos’ legacy projects, are in progress within the Freeport.
Meanwhile, the upcoming completion of the North-South Commuter Railway will link the Freeport to other business districts in the country, boosting Clark’s potential and creating new opportunities for business and tourism.