In a bid to create a more business-friendly environment within New Clark City, the Bases Conversion and Development Authority (BCDA) and the Philippine Economic Zone Authority (PEZA) inked a memorandum of agreement (MOA) aimed at enhancing the ease of doing business within the 9,450-hectare metropolis.
Under the agreement, PEZA and BCDA will jointly facilitate the establishment, development, and regulation of economic zones within the growing metropolis.
The partnership will also arrange capacity-building programs, encompassing training sessions and technical workshops; policy consultations; and synchronized investment promotion activities designed to showcase New Clark City’s potential.
“By working hand-in-hand, BCDA and PEZA will leverage our expertise to streamline processes, harmonize regulations, and create a more seamless experience for businesses operating within the New Clark City,” BCDA President and CEO Joshua M. Bingcang said during the event.
Leveraging their strengths as key investment promotion agencies, both agencies will work together to formulate and implement targeted investment attraction strategies. This includes developing comprehensive policy roadmaps to guide investment and applying impactful marketing campaigns to boost New Clark City’s profile.
These efforts will be specifically designed to attract high-value industries and regional business enterprises (RBEs), encouraging them to establish a significant operational presence within the city.
Furthermore, all investment commitments secured through this joint effort will be directly attributed to BCDA which will increase its investment portfolio.
PEZA Director General Tereso O. Panga stated that this strategic division of roles capitalizes BCDA’s property development and estate management expertise all while complemented by PEZA’s strengths in foreign direct investment acquisition, investor retention, and its valued one-stop shop services.
“Through this partnership, [we] are proud to extend its investment facilitation mechanisms to support RBEs within BCDA-administered economic zones. By combining our institutional strengths with BCDA’s vision of a smart, green, and resilient metropolis, we aim to attract world-class investors, bring in strategic investments, and create meaningful employment for Filipinos,” Panga added.
Meanwhile, BCDA Chairperson Atty. Hilario B. Paredes expressed strong confidence in the collaboration, noting that “BCDA will benefit from PEZA’s extensive experience in the administration of ecozones and best practices in attracting and facilitating investments in the BCDA properties.”
Contributing to the Marcos administration’s Build Better More economic agenda, the BCDA is transforming Clark into Asia’s next smart investment destination. This strategic development is poised to decongest Metro Manila and catalyze socioeconomic growth across Central and Northern Luzon.
