July 13, 2022

Commodity Reporters Guild

Latest Investing Ideas & Tips from Pros. Your daily news source covering investing ideas, market stocks, business, retirement tips from Wall St. to Silicon Valley.

New Clark City draws interest from Singaporean investors at international road show

STATE-RUN Bases Conversion and Development Authority (BCDA) and Filinvest Land, Inc. (FLI) said on Wednesday that their recent investment road show in Singapore was “well-received” by investors, with some expressing interest in the New Clark City, a master-planned community in Central Luzon.

“We are 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,” FLI Senior Vice-President Francis V. Ceballos said in an e-mailed statement.

The BCDA is looking for private sector partners to help implement various projects in the New Clark City, Joshua M. Bingcang, BCDA senior vice-president, told over 50 Singaporean investors during the road show on June 27.

“We are already at the Phase 1 of development. We are done with planning, we are already at the implementation stage. We have investment opportunities that are very much welcome for our business partners,” he said.

He talked about opportunities in the setting up of a multi-modal transport hub, eco-theme parks and ecotourism spots, as well as mixed-use, retail, and food and beverage establishments.

There are also investment opportunities in research and knowledge-based pharmaceutical and medical facilities as well as data centers, he said.

FLI President Tristaneil D. Las Marias urged the Singaporean investors to consider the Filinvest Innovation Park as their next investment destination.

The Filinvest Innovation Park, spanning 120 hectares, is part of the 288-hectare township project of the BCDA and FLI in New Clark City. It is planned to be a sustainable, resilient, and future-ready hub in Central Luzon.

Mr. Ceballos said that construction power is ready and available at the Filinvest Innovation Park, while water and wastewater utilities will begin commercial service by early 2023.

He added that the first batch of ready-built factories will also be available next year.

“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.”

Meanwhile, Philippine Ambassador to Singapore Joseph del Mar Yap said that the Philippine Embassy in Singapore and the Philippine Trade and Investment Center-Singapore are ready to assist investors planning to do business in the country.

“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. 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,” Mr. Yap said. — Revin Mikhael D. Ochave