MANILA, Philippines — More than 100 US companies are interested in exploring investment opportunities in Clark, according to the Bases Conversion and Development Authority (BCDA).
In a statement, the BCDA said American firms have expressed interest in exploring investment opportunities in connective infrastructure, information and communications technology and the critical minerals sector.
BCDA chairman Delfin Lorenzana and BCDA president and CEO Joshua Bingcang took part in the recent Senior Leaders Seminar in Washington DC to pitch investment opportunities in New Clark City, Clark Freeport Zone and Clark International Airport.
During the event, the BCDA presented the development projects in Clark including the 296.5-acre Filinvest Innovation Park in New Clark City, $3.17 billion Subic-Clark-Batangas Railway System, $152 million Clark National Food Hub, $60 million expansion of airside capabilities of Clark International Airport, $2 billion data center colocation facility, $172 million solid waste management and waste-to-energy project, $17.9-million solar photovoltaic power plant and the $100-million Clark Integrated Public Transport System.
“From a former US military air base, Clark has grown into being the top tourist destination and investment hub in Central Luzon. With significant developments happening in Clark, many US companies are taking notice. This is why they want to have a big role in Clark developments,” Bingcang said.
The business mission forms part of the efforts of Special Assistant to the President for Investment and Economic Affairs Frederick Go to encourage more investments in the country particularly in critical sectors such as infrastructure, pharmaceuticals and logistics.
During the same event, Lorenzana and Bingcang met with US Secretary of Commerce Gina Raimondo, who will lead the US Presidential Trade and Investment Mission to the Philippines from March 11 to 12.
The BCDA said Raimondo expressed commitment to pitch Clark as an ideal investment hub for US companies looking to expand in the Philippines.
The US trade and investment mission to the Philippines was announced during the bilateral meeting of President Marcos and US President Joe Biden in May last year.
The upcoming trade and investment mission to the Philippines is aimed at enhancing US companies’ investment in the country, particularly in the innovation economy, clean energy transition, critical minerals and food security.
It is expected to reinforce the Philippines as a key hub for regional supply chains and high quality investment.
As of last year, Clark hosts over 1,000 companies including Texas Instruments, FedEx, Hilton, Nestle, UPS and Marriott.