The Bases Conversion and Development Authority (BCDA) vows to continue its efforts to develop New Clark City in Tarlac into a premier industrial hub that can attract local and foreign investors, in line with the Marcos administration’s socioeconomic agenda.
BCDA President and Chief Executive Officer Joshua M. Bingcang made this pronouncement following President Ferdinand R. Marcos Jr.’s bilateral meeting with Singapore Prime Minister Lawrence Wong, where the president highlighted New Clark City as a viable destination for Singaporean investors.
President Marcos during then told Prime Minister Wong that the Philippine government was eyeing to develop New Clark City as an industrial center in which Singaporean investors could participate.
“We are thrilled to have none other than President Marcos Jr. as our ambassador for New Clark City. With his support, we can certainly attract more investors to choose this area as they pursue expansion and investment opportunities,” PCEO Bingcang said.
He added: “On the BCDA’s part, we commit to develop New Clark City according to the masterplan, with the vision of creating the country’s green, resilient, inclusive, and smart metropolis. We want to position New Clark City as an investment haven and tourist destination—one that will support the Marcos administration’s socioeconomic agenda of establishing livable and sustainable communities, revitalizing industries, and generating quality jobs.”
New Clark City is a 9,450-hectare greenfield development inside the Clark Special Economic Zone positioned to be an inclusive, resilient, sustainable, and smart city. This major metropolis is being developed to help decongest Metro Manila, and to serve as an investment hub to catalyze growth in Central Luzon.
Given Singapore’s experience in smart city development, BCDA tapped Surbana Jurong of Singapore in crafting New Clark City’s Comprehensive Master Development Plan. Also involved in the masterplan were the Japan Overseas Infrastructure Investment Corporation for Transport and Urban Development, AECOM, Nippon Koei, and Philkoei International.