The Bases Conversion and Development Authority (BCDA) is actively courting Taiwanese investors to settle in either of its subsidiaries – Poro Point Freeport Zone and New Clark Freeport – as their ideal destination being the closer to Taiwan.
BCDA Executive Vice President and COO Aileen Anunciacion Zosa made the presentation during a series of webinars for Taiwanese investors and Manila Economic and Cultural Office (MECO) officials led by President Wilfredo B. Fernandez and Taipei Economic and Cultural Office (TECO) Representative Michael Peiyung Hsu will introduce the country’s two new growth centers to foreign businesses and investors.
Zosa introduced the critical infrastructure projects that make Poro Point an ideal location for Taiwanese investors. Banking on a young workforce, improved accessibility, growth potential and investor-friendly laws, Poro Point is being introduced to the Taiwanese business community as an emerging economic hub strategically located in the Philippines.
“Poro Point Freeport and Special Economic Zone is actually the closest property to Taiwan. In fact, it’s just a stone’s throw from Taiwan and Xiamen, with Poro Point having an airport, seaport, and tourist and entertainment/gaming complex, making it ideal for Taiwan locators,” Zosa said.
Poro Point is home to the San Fernando International Seaport, which has three pier structures that can accommodate all types of vessels; and the upgraded 100-acre San Fernando Airport, which is positioning itself as a premier destination for aviation training.
BCDA, in partnership with the Ministry of Transportation, is also currently constructing the 35 million peso San Fernando Ferry Port Terminal inside the Poro Point Free Zone. When completed, the terminal will reduce travel time to and from the surrounding communities of Alaminos and San Fernando, as well as Dagupan in Pangasinan, from over five hours to just two and a half hours.
Offering the perfect mix for business and leisure, Poro Point also boasts of a world-class Mediterranean-inspired integrated resort with a golf course and gaming and leisure facilities as well as various areas for tourist use. mix and business development.
In addition to air, sea and land infrastructure projects near Poro Point, the Information and Communications Technology Department and BCDA also implemented the Luzon Bypass Infrastructure Project, a highway of the ultra-high-speed information that will dramatically improve the speed, affordability, and accessibility of high-speed internet throughout the archipelago. The presence of a cable landing station at Poro Point strategically positions it as the computing hub of the North.
Besides Poro Point, Zosa also showcased New Clark City’s growth potential to Taiwanese businesses, citing its smart, green and resilient features.
“Because physical connectivity is important to the global supply chain that we are emphasizing in the development of Clark and New Clark City, BCDA will complete the direct connection of the new terminal at Clark International Airport this year. in New Clark City with the completion of the Sacobia Bridge. , reducing travel time to 15-20 minutes,” Zosa said in a separate “New Clark City: The Philippines’ Next Growth Center” forum.
To date, 15 Taiwanese companies operate in the Clark Free Zone, generating 4,933 jobs and representing investments worth $213.54 million.
Along with access to world-class highways and Clark International Airport, a bus rapid transit system, an integrated transit route, and high-speed railways are all planned for the development. “At Clark, we not only offer physical connectivity, but we also offer investors a very eco-friendly and sustainable quality of life by providing generous walking and cycling lanes,” Zosa said.
In order to preserve natural resources, only 1/3 of Clark’s total area will be developed. The rest will remain as is, with infrastructure to be built around, not over. Trees, greenery and other natural features will make up the majority of the development.
Zosa also shared with potential foreign investors that BCDA has engaged with several government agencies to set up key offices and infrastructure in New Clark, such as the Department of Agriculture’s National Seed Technology Park. as well as the Institute of Virology Science and Technology of the Ministry of Science and Technology. from the Philippines.
For his part, MECO President Wilfredo B. Fernandez said, “With a young, well-educated workforce averaging 23 years old and the country’s growing population of 105 million, the potential for New Clark City’s growth is brilliant. As investors seek economic areas with modern infrastructure to support relocation or expansion, I urge you to take a serious look at New Clark City.
In addition to investor-friendly laws such as the Business Recovery and Tax Incentive Act (CREATE), which can provide up to 40 years of incentives, as well as amendments to the Civil Service Act , the Foreign Investment Act, and the Retail Trade Liberalization Act, “The future of post-pandemic business in New Clark City couldn’t be brighter,” Fernandez added.
For TECO, New Clark City is a promising location for Taiwanese investors. “New Clark City’s vision is for the citizens of the Philippines to provide services and better city planning for the best interests of Filipinos. I hope that through this virtual seminar, Taiwanese manufacturers will have a better understanding of the investment opportunities in the Philippines, especially in New Clark City,” said TECO’s representative in the Philippines, Michael Peiyung Hsu.
BB International Leisure and Resort Development Corporation, a Taiwanese company operating inside the Clark Free Zone, said “everything works” in the business center. “Soon we believe Clark will be the center, the paradise for international business not only in Asia but also around the world,” said BB International President and CEO Irineo Alvaro Jr.
SUBSCRIBE TO THE DAILY NEWSLETTER
CLICK HERE TO REGISTER