BCDA woos Japanese investors for partnerships in Clark

The Bases Conversion and Development Authority (BCDA) is looking to attract Japanese investors and financial institutions for possible partnerships in the New Clark City, the Clark Freeport Zone, and the Clark International Airport.

During the High-Level Joint Committee on Infrastructure Development and Economic Cooperation in Tokyo, Japan, BCDA president and chief executive officer Joshua Bingcang highlighted the potential collaboration with Japanese investors in public-private partnership (PPP) projects.

Among the projects pitched during the meeting were the 100-hectare mixed-use Clark Central Business District in the Clark Freeport Zone in Pampanga; the 35-hectare affordable residential complex in New Clark City in Tarlac; the 22-hectare Clark International Convention and Exhibition Complex; the New Clark City Common ICT Infrastructure; and the data center colocation facility in New Clark City.

“Our partnership with Japan continues to flourish, as evidenced by the remarkable progress in these high-impact projects for New Clark City. Together, we are shaping the future of urban living, leveraging technology, sustainability, and collaboration to pave the way for innovation and progress,” Bingcang said.

“As we move forward, we see immense potential for collaboration and investment in Clark and the Philippines,” he added.

At present, there are 10 Japanese companies operating in the Clark Freeport Zone, including Yokohama and Taiyo Nippon Sanso.

BCDA has also partnered with the Japan Overseas Infrastructure Investment Corp., Nippon Koei, Keio University, The Kansai Electric Power Co. Inc., Chubu Electric Power, Marubeni, New Energy and Industrial Technology Development Organization, and Zenmov for other projects.

The BCDA in February said it plans to bid out P11 billion worth of development projects for New Clark City this year, including the P1-billion solar farm with a capacity of up to 40 megawatts.

The Joint Foreign Chambers of the Philippines (JFC) — which counts as a member the Japanese Chamber of Commerce and Industry of the Philippines — in December said it targets $128-billion worth of FDIs into the Philippines by the end of 2030, citing legislative reforms.

Hot money net inflows stood at $962 million in July, up from the $0.28-million net inflows in June, and a reversal of the $103.14 million the same month last year. This was also the highest in 15 months. — Jon Viktor D. Cabuenas/RSJ, GMA Integrated News