BCDA and Filinvest Land Inc. Look to Singapore for Investors in New Clark City

The Bases Conversion and Development Authority (BCDA), along with its partner Filinvest Land, Inc. (FLI), recently spoke at an investment roadshow in Singapore. During the event, the partners invited attendees to invest in New Clark City. According to BCDA senior vice-president Joshua Bingcang, the government-owned corporation is on the search for private sector partners to aid the implementation of various projects in New Clark City.

“We are already at the Phase 1 of development,” said Bingcang, noting that they were “done with planning” and are “already at the implementation stage.” He added that there are several “investment opportunities that are very much welcome for our business partners.” Francis Ceballos, FLI senior vice-president, also expressed that they were “quite pleased with the keen interest of the event’s attendees in New Clark City, in general, and Filinvest New Clark City, in particular, especially for the Filinvest Innovation Park as a location for establishing future industrial facilities in the Philippines.”

Among the investment opportunities within the master-planned community include mixed-use developments, a transport hub, ecotourism parks, and even medical facilities as well as data centers. Additionally, FLI President Tristaneil Las Marias also forwarded the Filinvest Innovation Park project as another potential investment destination for participants.

“Phase 1 (of the Filinvest Innovation Park) is now ready to accept locators looking to construct their own facilities, particularly, companies involved in the fields of logistics, e-commerce, light manufacturing, and data center operations,” Ceballos elaborated. The BCDA and FLI expect the 120-hectare project to become a sustainable, resilient, and future-ready hub in New Clark City.

Joseph del Mar Yap, Philippine Ambassador to Singapore, also noted that the Philippine Embassy in Singapore will be ready to provide assistance for investors looking into the country. Along with the embassy, the Philippine Trade and Investment Center-Singapore will, likewise, offer its support. “As both the Philippines and Singapore fully reopen our borders, we look forward to more robust cooperation, trade and business, tourism, and mutual exchange between our two countries,” explained Ambassador Yap. “There are many promising areas of mutual cooperation between the Philippines and Singapore — smart city and digital technology, financial technology, sustainable industries, renewable energy, consumer sector, just to name a few.”

Source: BusinessWorld