The Market Monitor Minding the Nation's Business
CLARK could become a major engine of growth for Central Luzon and the whole country.
This was stressed by Senator Mark A. Villar, chairperson of the Senate Committee on Government Corporations and Public Enterprises, as he cited Clark’s potential on the back of several high-impact projects in the special economic zone.
In a forum held last month, Villar expressed excitement for the government’s development plans for Clark, particularly the BCDA Group’s major infrastructure projects in the pipeline.
“Kapag natapos po ‘yong mga projects–‘yong mga airport, ‘yong mga railway–I foresee that this will be one of the major engines of growth in our country that will allow us to reach the next level of development,” the senator said.
During the event, BCDA President and Chief Executive Officer (PCEO) Joshua M. Bingcang, Clark Development Corp. PCEO Agnes VST Devanadera, and Clark International Airport Corp. PCEO Arrey A. Perez provided Senator Villar, as well as heads of local government units and executives from business organizations from Pampanga, Tarlac, and Bataan an overview of projects and programs for the whole Clark Freeport and Special Economic Zone.
Currently, Clark is at the epicenter of growth in Luzon, with three projects lined up as part of the proposed Luzon Economic Corridor. These include the Clark International Airport Expansion Project, Clark National Food Hub, and the Subic-Clark-Manila-Batangas Railway Project.
Other government agencies and the private sector also see opportunities in Clark, leading to landmark partnerships for the implementation of high-impact projects and investments.
Among these is the BCDA’s strategic partnership with Maharlika Investment Corp., which was formalized with the goal of including BCDA projects and programs in the portfolio of the country’s first sovereign wealth fund.
Luzon International Premiere Airport Development, the operator of Clark International Airport, also inked an agreement with Federal Express Corp. for the expansion of the logistics company’s gateway in Clark.
The provincial government of Tarlac, in partnership with the BCDA, also welcomed Narra Technology Park Development Inc. in New Clark City.
The company intends to invest $2.7 billion for the establishment of a 300-megawatt hyperscale data center in New Clark City.
Meanwhile, STB GigaFactory Inc.’s electric vehicle battery manufacturing plant at the Filinvest Innovation Park in New Clark City is slated to start operations this year.
Last March, the company signed an agreement with the BCDA to expand its capacity from 600-megawatt hour to two-gigawatt hour by 2030.
Erratum
We would like to correct an error in the story titled “Sen. Villar Cites Clark’s Potential as Major Engine of Growth” on our print edition. The photo of Sen. Cynthia Villar was inadvertently used instead of Sen. Mark Villar’s.