Clark catches fancy of US companies as investment hub

Over a hundred US companies are interested in exploring investment opportunities in Clark, according to the Bases Conversion and Development Authority (BCDA).

The BCDA, in a statement, said American firms have expressed interest in exploring investment opportunities in connective infrastructure, information and communication technology, and the critical minerals sector.

BCDA Chairman Delfin Lorenzana and BCDA President and CEO Joshua Bingcang attended the recent Senior Leaders Seminar in Washington DC to pitch investment opportunities in New Clark City, Clark Freeport Zone, and Clark International Airport.

Among the projects that Lorenzana and Bingcang presented in the event were the 296.5-acre Filinvest Innovation Park in New Clark City; $3.17 billion Subic-Clark Batangas Railway system; $152 million Clark Nation Food Hub; $60 million expansion of airside capabilities of Clark International Airport; $2 billion data center colocation facility; $172 million solid waste management and waste-to-energy project; $17.9 million solar photovoltaic power plant; and the $100 million Clark Integrated  Public Transportation System.

Bingcang said that from a former US military air base, Clark has grown into a top tourist destination and investment hub in Central Luzon.

“With these significant developments happening in Clark, many US companies are taking notice. This is why they want to have a big role in Clark developments,” Bingcang added.

Lorenzana revealed that US Secretary of Commerce Gina Raimondo will lead the US Presidential Trade and Investment Mission to the Philippines from March 11 to 12.

Lorenzana said Raimondo expressed commitment to pitch Clark as an ideal investment hub for US companies looking to expand in the Philippines.

The US trade and investment mission to the Philippines was announced during the bilateral meeting of President Marcos and US President Joe Biden In May last year.

Lorenzana said the upcoming trade and investment mission to the Philippines is aimed at enchanting US companies’ investment in the country, particularly in innovation economy, clean energy transition, critical minerals, and food security.

The trade and investment mission is expected to bolster the Philippines’ identity as a key hub for regional supply claims and high-quality investment.

As of last year, Clark has hosted over 1,000 companies including Texas Instruments, FedEx, Hilton, nestle, UPS, and Marriott.