Clark Freeport Zone H1 investments hit $5.5B

THE Clark Freeport Zone (CFZ) received roughly $5.5 billion in investments in the first half (H1) of 2023, according to the head of the Clark Development Corp. (CDC), owing to the business hub’s strategic location.

“Contrary to our expectations, we thought that we would not be able to gather more investments. And I’m happy to say that as of June 30, we [have] already hit $5.5 billion [in investments],” said CDC President and Chief Executive Officer Agnes Devanadera at the Bagong Pilipinas Ngayon public briefing.

“It’s so encouraging because of the confidence that our locators or foreigners have in the Philippines and under the leadership of President (Ferdinand Jr.) Marcos; it’s so good,” said Devanadera.

Devanadera said the investment growth was the result of the business and leisure hub’s good strategic location, given Clark’s proximity to expressways, railways and an international airport.

CDC, a government-owned and -controlled corporation, is aiming to transform CFZ into a regional business hub that could cater to local and foreign companies.

Get the latest news

delivered to your inbox

Sign up for The Manila Times newsletters

By signing up with an email address, I acknowledge that I have read and agree to the Terms of Service and Privacy Policy.

“Since all roads now lead to Clark, including air, train, railways and land, we believe that it is right that we have our regional centers here [not just for] Philippine offices but also regional for Southeast Asian companies and offices,” Devanadera noted.

“We think that with the four areas of heightened readiness — power, water, connectivity and transportation — we will be able to attain this vision to create and recreate Clark as the regional hub in the Philippines and in Southeast Asia,” she said.

In addition, she also said the soon-to-rise multi-specialty hospitals, which will be built on the 5.7-hectare land inside the CFZ, would be a “game changer” in the country’s health program.

“[There will be a] heart center, kidney center, children’s hospital, cancer institute, and we added a trauma [center]. With all the possible accidents, there should be a trauma center, so five specialty hospitals in one area,” Devanadera said.