In a strategic move to enhance the investment climate in New Clark City, the Bases Conversion and Development Authority (BCDA) and the Philippine Economic Zone Authority (PEZA) have signed a memorandum of agreement (MOA) aimed at streamlining business processes and fostering economic growth within the 9,450-hectare metropolis.
The agreement outlines a collaborative framework for the establishment, development, and regulation of economic zones in New Clark City. It includes joint efforts on capacity-building initiatives such as training programs, technical workshops, and policy consultations, as well as synchronized investment promotion activities to elevate the city’s profile.
BCDA President and CEO Joshua M. Bingcang emphasized the significance of the partnership, stating, “By working hand-in-hand, BCDA and PEZA will leverage our expertise to streamline processes, harmonize regulations, and create a more seamless experience for businesses operating within New Clark City.”
Both agencies will develop targeted investment strategies and comprehensive policy roadmaps to attract high-value industries and regional business enterprises (RBEs). Through robust marketing campaigns, they aim to position New Clark City as a prime destination for world-class investors.
All investment commitments generated through the partnership will be credited to BCDA, enhancing its investment portfolio and reinforcing its role in national development.
PEZA Director General Tereso O. Panga highlighted the complementary strengths of the two agencies: “Through this partnership, PEZA is proud to extend its investment facilitation mechanisms to support RBEs within BCDA-administered economic zones. By combining our institutional strengths with BCDA’s vision of a smart, green, and resilient metropolis, we aim to attract strategic investments and generate meaningful employment for Filipinos.”
BCDA Chairperson Atty. Hilario B. Paredes echoed this optimism, citing PEZA’s extensive track record in ecozone administration and its success in facilitating investments as key advantages for New Clark City.
The collaboration supports the Marcos administration’s Build Better More economic agenda and positions Clark as a next-generation smart investment hub, set to ease Metro Manila’s congestion and drive inclusive growth across Central and Northern Luzon.