THE Philippine Economic Zone Authority (Peza) and the Bases Conversion and Development Authority (BCDA) have consolidated their investment promotion efforts for New Clark City in Tarlac, presenting it as a single, coordinated destination for locators and developers.
In a recent joint investor briefing, the two agencies laid out investment opportunities in New Clark City, which spans Capas and Bamban, and forms part of the Luzon Economic Corridor.
New Clark City, for them, is a gateway for logistics, manufacturing, trade, and technology-driven industries, supported by its proximity to key infrastructure such as Clark International Airport, Subic Bay and major expressways.
The briefing was anchored on an existing memorandum of agreement between Peza and BCDA that seeks to streamline investment facilitation for the planned smart city development, from initial inquiry to actual business operations.
Peza Director General Tereso Panga said the partnership is intended to strengthen the country’s competitiveness in attracting investments by offering a more coordinated government approach.
“The strong partnership between Peza and BCDA reflects our shared commitment to making the Philippines a more competitive and investment-friendly destination,” Panga said.
“With New Clark City’s strategic location within the Luzon Economic Corridor, world-class infrastructure, and future-ready ecosystem, we are opening more opportunities for global investors seeking sustainable and high-growth locations in the region,” he added.
For his part, BCDA president and chief executive officer Joshua Bingcang said the collaboration is aimed at removing friction for investors by integrating processes across agencies involved in site development and operations.
“As a flagship development under the Luzon Economic Corridor, New Clark City is designed to become a future-ready hub for industries, innovation, and sustainable growth,” Bingcang said.
As of December last year, there are five Peza-registered ecozones in the Clark area hosting 24 locator companies, with combined investments exceeding P62 billion and employing more than 29,000 workers.
Source: Business Mirror
