PRESS RELEASE
PR-069-2023
(3 May 2023, Singapore) Philippine Ambassador to Singapore H.E. Medardo G. Macaraig led the delegation comprising the first Singapore Business Mission to Clark City from 28 to 29 April 2023. Joining him were the Philippine Embassy’s Economic Team composed of Third Secretary and Vice Consul Atty. Joy Anne B. Lai (Head, Economic Section) and Commercial Counsellor Atty. Carla Regina P. Grepo (PH Trade and Investment Center – Singapore); and several Singaporean business executives and potential investors in New Clark City, the Philippine Bases Conversion and Development Authority’s (BCDA) newest project. The delegation boarded Cebu Pacific’s inaugural flight between Singapore and Clark City, which was relaunched at the Changi International Airport on 28 April 2023.
The Philippine Embassy organized the business mission in pursuance of the Memorandum of Understanding (MOU) signed between BCDA and Enterprise Singapore during the visit of President Ferdinand R. Marcos, Jr. to Singapore in September 2022. The MOU aims to increase the investment footprint of Singapore companies in New Clark City, a 9,450-hectare greenfield development inside the Clark Special Economic Zone which is projected to be the country’s first disaster-resilient, green, sustainable and inclusive city. It will also be the home of the National Government Administrative Center (NGAC). With its proximity to Metro Manila and connectivity to the region, thanks to the Clark International Airport, New Clark City is poised to become the next big metropolis and sports tourism destination.
In the morning of 29 April 2023, the delegation was given an overview of the four (4) districts and economic zones visually represented through the scale models on display at the BCDA Corporate Center. It was followed by presentations from the different agencies and companies involved in the development of New Clark City, namely, BCDA, Clark Development Corporation (CDC), Filinvest Land, Inc. (FLI) and Filinvest Development Corporation (FDC), Luzon International Premier Airport Development (LIPAD), Clark International Airport Corporation (CIAC), and Filinvest BCDA Clark, Inc. (FBCI).
Also present during the roundtable discussion were former Philippine Ambassador to Singapore Joseph del Mar Yap; FDC President and CEO Ms. Lourdes Josephine Gotianun Yap; LIPAD President and CEO Mr. Noel F. Manankil; and BCDA President and CEO Ms. Aileen An. R. Zosa, who delivered the welcome remarks.
In Ambassador Macaraig’s remarks, he acknowledged the presence of members of the business delegation with current investments in the Philippines, namely, Oceanpixel which has a partnership with Mindanao Development Authority on blue economy, and Tung lok Group which has restaurants at the City of Dreams Manila and S. Maison at Conrad. The ambassador also thanked all the Embassy partners for the event – BCDA, Filinvest’s Quest Hotel, and Cebu Pacific. “Today, we strengthen old alliances and look into expanding their businesses and investments here in Northern Luzon. But we, of course, also intend to bring new members into our community to help us realize the vision for New Clark City, and also become our Ambassadors to encourage more investors to come to our shores”, the Ambassador stated.
The day ended with a tour of some of the existing facilities at New Clark City, including the Aquatic Center, Athletic Stadium, and The Residences; its ongoing projects including the mountain reserve project by Hann Development Corporation and the National Academy of Sports; and the locations of upcoming compounds like the new Bangko Sentral ng Pilipinas complex and its neighbor, the Supreme Court of the Philippines, the Filinvest township project, the PH Virology and Vaccine Institute, University of the Philippines, and the Philippine Science High School.
BCDA is the Philippine government agency mandated to transform former military bases and properties into premier centers of economic growth through partnerships with private sectors and investors. It developed the Comprehensive Master Development Plan for New Clark City in partnership with the Japan Overseas Infrastructure Investment Corporation for Transport and Urban Development (JOIN), and Urbana Jurong of Singapore. (END)
