CLARK FREEPORT -- Two firms are set to invest P242 million in their expansion project in this freeport.

The Clark Development Corporation (CDC) said local and international firms continue to pour in additional investments within Clark "highlighting their confidence in the freeport’s potential as a thriving business destination."

A contract signing between Clark Development Corporation (CDC), ComClark Network and Technology, Inc. (ComClark), and Yokoisada Philippines Inc., was held on Tuesday at the Clark Visitor’s Center.

CDC President and Chief Executive Officer Agnes Devanadera said the state-owned firm takes pride in these additional investments and that these businesses signify the growing belief in the Freeport’s ability to facilitate economic expansion and create mutually beneficial opportunities.

"We take pride and give importance to this kind of ceremony (contract signing) because this only goes to show that local and foreign investors continue to invest in Clark. Our investors are our patriots. We are happy to hear success stories here in Clark, and in any part of the country, there are stories of local boys. One that is very significant is that of Mr. Dennis Anthony Uy,” said Devanadera.

“We also have with us the Yokoisada which has shown the world that at a time of catastrophe, they are willing to offer help to the world. These make today’s event very significant and different from other signing ceremonies we’ve had,” she added.

ComClark Network and Technology, Inc. is expanding its operations in the freeport with an additional investment of P12 million, which is expected to create 56 new jobs.

This brings ComClark's total investment in the Freeport to P484 million.

The local company, led by Uy, who is also the top executive of Converge ICT Solutions, showcases the potential for local businesses to thrive and succeed not only in Clark but also across the country, CDC said.

Meanwhile, Yokoisada Philippines Inc., a Japanese-led firm headed by its President Yuki Yokoi, has allocated an additional investment of P230 million, resulting in 95 new employments.

With this, the firm’s total investment in Clark now reached P468 million.

Yokoisada is one of the leading companies in the Freeport.

It provided support during the height of the COVID-19 pandemic by manufacturing and distributing surgical and face masks across the region.