Clark pitched as next investment destination

The Bases Conversion and Development Authority (BCDA) expects Clark to be the next investment destination in the country, citing key developments that would make it more appealing for businesses.

“Clark is the new frontier for the country. With the current developments, we aim to decongest Manila, provide thousands of jobs, and make Clark the next investment destination in the country,” BCDA president and CEO Vivencio Dizon said.

Some of the key infrastructure projects under the government’s Build Build Build program are geared toward positioning Clark as a viable investment destination.

Among these projects are the construction of the Subic-Clark Railway, the North-South railway projects connecting Los Baños, Laguna to Tutuban in Manila and to the Clark Freeport in Pampanga, the 1,500-hectare industrial park in Clark, and the expansion of the Clark International Airport – the first hybrid public-private partnership project rolled out under the Duterte administration.

The projects are joint undertakings of BCDA and the Department of Transportation.

The Clark International Airport is envisioned to be a major gateway in the country, with its capacity expected to increase to 80 million passengers yearly at full development.

A new world-class terminal building, which broke ground last December, is projected to accommodate eight million passengers per annum. Phase 1 is expected to be completed by June 2020.

BCDA said Clark International Airport broke the record for the highest number of passengers served in a day with 8,322 individuals passing through the airport on April 2.

For this year, the passenger volume target at the Clark airport is two million.

BCDA is also continuing the development of the 9,450-hectare New Clark City, a new metropolis that will rise in the Clark Special Economic Zone in Capas and Bamban towns in Tarlac.

It is designed to be the country’s first smart, green, disaster-resilient city, where nature, lifestyle, business, education and industries converge, and will be at par with other modern cities in the world.

BCDA has already inked collaboration agreements with Japan Overseas Infrastructure Investment Corp. for Transport and Urban Development and Surbana Jurong of Singapore for the development of New Clark City.

Malaysia’s MTD Capital Bhd., meanwhile, is set to develop a National Government Administrative Center within New Clark City.