The Market Monitor Minding the Nation's Business
By Kris M. Crismundo / Philippines News Agency
State-owned Bases Conversion and Development Authority (BCDA) is looking into partnering with the French government to develop Clark Green City in Capas town, Tarlac province.
BCDA President and CEO Arnel Paciano Casanova told reporters last Thursday that a French delegation visited the country and met with the agency to come up with an agreement to bring French investments to Clark Green City, regarded as the agency’s largest land development.
He also said France is eyeing investments in logistics, food, and agriculture.
“We’re pursuing opportunities also with France [and] the European Union [EU] [in] logistics [and] agriculture, particularly massive investments in agriculture and connecting our farmers to [the] global market,” Casanova said.
“We are already discussing the details,” he added.
This comes after the BCDA established a joint venture agreement with Japanese government-owned Japan Overseas Infrastructure Investment Corp. for Transport and Urban Development (JOIN) for Clark Green City early this year.
Casanova said the BCDA continues to partner with other state-owned enterprises to develop Clark Green City, a 9,450-hectare property that’s touted as the country’s first smart, green, and disaster-resilient city.
Aside from France and Japan, the BCDA is also exploring partnerships with other EU countries, the United States, and Southeast Asian nations.
“Within [the] Asean [Association of Southeast Asian Nations], we [have partnered] with Singapore,” the BCDA chief said.
The BCDA partnered with the Temasek Foundation in sending 100 government senior executives to Singapore’s Nanyang Technological University (NTU) for an urban policy, governance and green-city development course that is expected to play a vital role in developing Clark Green City.
Four separate batches of 25 government officials and officers traveled to the city-state in 2015 and 2016 for an extensive, 14-day training at NTU.
Casanova said that, aside from the partnership to train government executives, the Philippines and Singapore are also looking at exploring opportunities in Clark Green City in urban and industrial-estate development.
Once fully developed, Clark Green City is expected to contribute an estimated P1.57 trillion annually to the Philippine economy with 1.2 million residents and 800,000 workers.