11 firms eye investments in Clark Green City

By on January 8, 2015

Clark Freeport Zone
Clark Freeport Zone

MANILA — Eleven companies eye investing in Clark Green City, the largest development of the state-owned Bases Conversion and Development Authority (BCDA), said BCDA President and Chief Executive Officer Arnel Paciano D. Casanova on Thursday.

Casanova said that these 11 firms are major players in property and industrial estate development.

He mentioned that four of these companies are foreign investors.

“We are targeting that we will be able to, at least, sign one on the first quarter (of this year). We want to move things fast,” he said.

“We’re building new city, so there’s industrial estates, residential, mix uses, even institutional areas. It’s a complete package. We could be dealing with different players,” he added.

The BCDA chief explained that interested locators in the Clark Green City can bid or negotiate for projects.

He mentioned that locators in the Clark Green City may be provided with fiscal and non-fiscal incentives depending on the nature of their business.

“If it’s a substantial investments coming in that would be beneficial to the Philippine economy, then they could possibly avail these income tax holiday and other incentives,” Casanova said.

“We are looking more on economic value as our mandate is to be an economic catalyst. BCDA needs to assure development that would put the Philippines greater competitive advantage in the region,” he added.

The 9,500-hectare Clark Green City will have three phases: Phase-1 allotted for government, central business district, industrial and academic centers; Phase-2 for agricultural projects; and Phase-3 is allocated for eco-tourism projects.

Clark Green City is a strategic location since it is near the Clark International Airport, Subic Bay Freeport Zone, and Subic-Clark-Tarlac Expressway (SCTEX).

When fully developed, CGC is expected to contribute an estimated Php1.57 trillion annually to the Philippine economy and will create 925,000 jobs.