CLARK FREEPORT -- This Freeport has exceeded its investment targets, securing a substantial P44.5 billion, all sealed within the first quarter of this year, the Clark Development Corporation CDC said.
CDC President Agnes Devanadera said this achievement is attributed to the dynamic investment climate in Clark under the direction of President Ferdinand Marcos Jr.
Devanadera presented this achievement to Secretary Frederick Go, the Special Assistant to the President for Investment and Economic Affairs, at the recent meeting held at the Heroes Hall in Malacañan.
The CDC said the investments are direct leases with the state-owned firm.
It added that these are aligned with the priorities set by Go's office in the national government, covering various sectors such as renewable energy, tourism, semiconductors, electronics, pharmaceuticals, medical devices, green minerals, food and agriculture, and steel.
Go expressed gratitude to investors during the meeting for their interest in investing in the Philippines.
“On behalf of the national government and the country, thank you for your continued interest in investing in the Philippines, particularly in Clark,” Go said.
“Whenever I talk to investors in the Philippines, I always advocate for the Clark area, especially for highly urbanized or highly commercialized forms of investment, because I believe it is the best location for them to enter,” the Philippines’ economic czar added.
The investments consist of expansion projects being implemented by existing locators.
These additional investments will be infused this year and spread over phases as specified in their respective contracts with CDC.
Among the investors who participated in the meeting with Go include Donggwang Clark Corporation, a developer of tourism and leisure estates.
The firm vowed to infuse an additional P20 billion.
BB International Leisure and Resort Development Corporation, a developer of integrated resort and water theme park facilities, has committed additional investment of P15 billion.
DeviceDesign Philippines Corp., a company in electronics manufacturing, allotted P103 million investment for their expansion plans.
Yokohama Tire Philippines, Inc. for its part will infuse an additional investment of P3.5 billion to expand manufacturing operations and daily output capacity within the Freeport.
Local investors, including Clark Water Corporation, earmarked P5.56 billion for service improvement projects.
The Philippine Exporter Foundation Region III Inc. is investing P30.6 million in a lifestyle showroom and pasalubong center.
Companies like Habibia Corp. (P22 million), JBW Floor Center Inc. (P5.8 million), Otonari Food OPC (P40 million), and Nationstar Development Corporation (P126.95 million) contribute to the diverse business landscape driving the growth of the Freeport.
With these investments and expansions, Clark Freeport anticipates adding 5,833 employees to its workforce, boosting employment opportunities in the region, the CDC said.
The Clark Multi-Specialty Medical Center (CMSMC) and the National Museum of the Philippines for North and Central Luzon, are currently in progress within the Freeport.