Singapore firm eyes development of industrial park in Clark

MANILA, Philippines — Singapore-based sustainable energy and urban solutions provider Sembcorp Industries Ltd. is exploring the development of an industrial park in New Clark City in Tarlac.

In a statement yesterday, the Philippine Economic Zone Authority (PEZA) said Sembcorp and HSBC Philippines recently met with the Bases Conversion and Development Authority and visited New Clark City for the proposed investment.

The visit follows Sembcorp’s recent meeting with the PEZA where the parties discussed the firm’s interest in developing industrial parks in the country.

Sembcorp is looking to replicate in the Philippines its experience in establishing the Vietnam Singapore Industrial Parks (VSIP) across Vietnam.

The VSIP model is founded on the strong ties between Vietnam and Singapore.

For PEZA, Sembcorp’s proposed industrial park would help strengthen the Philippines’ position as a competitive hub for investments in the region.

New Clark City is considered a strategic location given its modern infrastructure and growing potential as an attractive investment destination.

It is located along the Luzon Economic Corridor (LEC), which is being developed to enhance connectivity, promote sustainable industrial development and drive inclusive growth across Luzon’s key growth centers.

Launched by the Philippines, United States and Japan in 2024, the LEC has gained support from other countries such as Australia, Denmark, France, Italy, South Korea, Sweden, the United Kingdom and Canada.

A majority of PEZA-managed ecozones are located within LEC.