New Clark City is the next investment destination in Asia, said the Bases Conversion and Development Authority (BCDA), as it pitched business opportunities to German firms at the recent 2019 Asia Pacific Forum Bavaria held in Nuremberg.
At the Asian Hotspots Panel, BCDA Vice President for Investments Promotion and Marketing Atty. Joanna Eileen Capones highlighted the infrastructure developments in Clark, including New Clark City, envisioned to be the first smart, green, and sustainable metropolis in the country.
New Clark City is a 9,450-hectare metropolis rising within the Clark Special Economic Zone, with only 3,500 hectares as buildable area, leaving 6,000 hectares or 60 percent as green and open spaces.
Capones said firms can explore opportunities in the mixed-use industrial park, on Information and Communications Technology (ICT), Integrated Transport System, Solid Waste Management System, Gas Distribution System, and the operations and maintenance of the New Clark City sports facilities.
Phase 1A of the New Clark City project—the National Government Administrative Center (NGAC)—is now close to 90 percent complete, just 18 months since it broke ground. Part of Phase 1A is the construction of sports facilities to be used during the Philippines’ hosting of the 30th South East Asian Games (SEA Games) later this year. These world-class facilities include a 20,000-seater Athletics Stadium, a 2-000-seater Aquatics Center, and an Athletes’ Village.
According to Capones, Clark is an attractive location because of its proximity to connectivity infrastructure being improved under the Build Build Build program. These include the construction of a new terminal at the Clark International Airport operational by mid-2020, the Manila-Clark passenger railway that will connect the capital to Clark by 2022, and a cargo railway connecting Subic to Clark by 2022.
Clark also offers fiscal and non-fiscal incentives, provides a green and safe environment, and the region boasts of a young and English-proficient work pool.
Also in attendance at the Asia Pacific Forum were Philippine Ambassador to Germany Ma. Theresa B. Dizon-de Vega, Deputy Consul General Emil Fernandez of Frankfurt PCG, German-Philippines Chamber of Commerce and Industry (GPCCI) Executive Director Dr. Martin Henkelmann, Philippine Trade and Investment Center (PTIC)-Berlin Commercial Counselor Althea Antonio, and BCDA Director Gerard Camiña.
Dr. Henkelmann cited the Philippines’ economic growth momentum, positive credit ratings, and the massive infrastructure program as key factors to invest in the country.
The Philippines remains an attractive market for German firms according to the 2019 AHK World Business Outlook Survey conducted by GPCCI, wherein more than 70 percent of the respondents evaluated their business situation in the Philippines “better” than the previous year.