The Bases Conversion and Development Authority (BCDA) signed three new memoranda of understanding (MOUs) with Korean business experts to help the government-owned and -controlled corporation in transforming New Clark City into Asia’s preferred investment and tourism destination.
On the sidelines of Philippines-Korea Business Forum at Manila Hotel in Manila on Monday, October 7, 2024, BCDA and RMS Platform signed an MOU to explore partnership opportunities on smart city infrastructure development, including a proof of concept on an eGovernment digital platform for New Clark City. The proposed platform is seen to be a one-stop shop for citizens and locators, providing them access to city information, various web-based services, and online transactions.
BCDA also signed an MOU with Korea Overseas Infrastructure and Urban Development Corporation (KIND) for studies on the development of affordable residential communities in New Clark City. BCDA and KIND will explore innovative solutions for developing housing projects that are both cost-effective and sustainable, ensuring that these communities provide quality living environments for Filipino families.
These signing events coincided with Korean President Yoon Suk Yeol’s first state visit to the country, with an aim to enhance the bilateral relations between South Korea and the Philippines in a myriad of fields of cooperation including infrastructure development and trade and investments.
On October 08, 2024, BCDA and Korea-based Fine TME signed another MOU for the development of a collaborative framework to conduct studies on the efficient operations and maintenance of New Clark City sports facilities. Through the introduction of latest technologies, this partnership aims to promote New Clark City as a premier hub for national and international sports events in Asia.
“The willingness of our Korean partners to share their expertise in building smart, inclusive cities will help us set global standards on urban development in the country through New Clark City. We are confident that with their expertise and technical know-how, we can further transform New Clark City into the Philippines’ model of urban development catalyzed by smart city and sustainable technologies,” said Engr. Bingcang.
Transforming the whole of Clark into Asia’s next investment and tourism destination is the BCDA Group’s contribution to the economic agenda of the administration of President Ferdinand R. Marcos Jr.’s Build Better More program. This is also consistent with the United Nations Sustainable Development Goals (SDGs), particularly SDG 9, helping to build resilient infrastructure, promoting inclusive and sustainable industrialization, and fostering innovation.