The Clark Development Corporation (CDC) hosted its first-ever Clark Business Interdependence Conference (BIC) CEO Forum on September 4, 2024, at Hilton Clark Sun Valley Resort, under the theme “Discover New Revenue Streams.”
CDC Chairman Ed Pamintuan and President Atty. Agnes VST Devanadera spearheaded the event, which brought together CEOs from various sectors operating in Clark to foster growth and collaborative opportunities. In her opening remarks, Devanadera underscored a critical shift from dependency to interdependency among Clark’s 1,155 locators, stressing that businesses should no longer just co-exist but work in harmony to co-create. “Happy Interdependence Day! Clark is moving from competition to collaboration, and this is the future we are building together,” she said.
Devanadera also highlighted the forum’s key goals, including promoting renewable energy through solar panel installations, addressing pressing issues such as smuggling within the zone, and establishing stronger partnerships with the academic sector to create a robust talent pipeline for Clark’s industries. Her leadership was praised for driving the conversation forward on how businesses can leverage one another’s strengths to thrive in an ever-evolving economic landscape.
Keynote Focuses on Economic and Investment Potential
Frederick Go, Special Assistant to the President for Investment and Economic Affairs, delivered the keynote address, where he praised Clark’s business climate and Devanadera’s proactive efforts to bring together key industry players. He emphasized the importance of the CREATE MORE bill, which would further incentivize businesses within special economic zones like Clark.
Go also introduced the Clark Certification Mark, a symbol of quality that would enhance the reputation of Clark-made products in the global market. He remarked, “This is a significant step in making Filipino products recognized and appreciated worldwide.”
Government Reforms and Future Prospects
Go outlined the government’s key economic achievements, highlighting the country’s 5.5% GDP growth in 2023 and a credit rating upgrade to A- by Japan’s Rating and Investment Information, Inc. He attributed these successes to macroeconomic stability and continuous fiscal reforms. Go also discussed the Foreign Investment Act and Renewable Energy Act, which have liberalized key sectors such as retail and telecommunications, creating more opportunities for Clark locators.
In addition, Go emphasized the role of public-private partnerships (PPP) in the government’s ‘Build Better More’ Program, which includes 190 infrastructure projects designed to improve connectivity and support regional development, especially in hubs like Clark.
A Forward-Looking Clark Freeport
The forum concluded with breakout sessions focusing on technological advancements and emerging market trends, reinforcing CDC’s commitment to making Clark Freeport Zone a center of business innovation. Devanadera’s vision of a collaborative, interdependent business environment aligns with the national goal of “Bagong Pilipinas,” positioning Clark as a key driver of future economic growth.