British Chamber welcomes investment potential of New Clark City

The British Chamber of Commerce Philippines expressed its support for the initiatives of the Bases Conversion and Development Authority (BCDA) by attending its forum titled, “Unlocking the Investment Potential of New Clark City.”

This event aims to discuss investment opportunities within multiple sectors including manufacturing, infrastructure, renewable energy, food, among others.

BCDA Head of Investment Promotions and Marketing Erwin Kenneth Peralta during his presentation, identified five special economic zones namely: John Hay Special Economic Zone, Poro Point Freeport Zone, Clark Freeport and Special Economic Zone, Bataan Technology Park, Subic Bay Freeport Zone.

Peralta further noted the strategic location of Central Luzon in expanding economic opportunities for businesses, with the region contributing 10.9% of the country’s overall GDP.

 BCCP Executive Director/Trustee Chris Nelson also welcomed the close collaboration of the BCDA and the UK Foreign, Commonwealth & Development Office (FCDO) in benchmarking best practices in terms of sustainability, innovation and infrastructure.

Nelson also echoed the objectives of the BCDA in boosting British investors in the country, allowing them to explore sectors with huge potential in the Philippines.

Peralta noted that the UK FCDO has been heavily involved in Transit-Oriented Development (TOD) projects in New Clark City in ensuring efficient transportation and connectivity.

The British Chamber believes that this is a significant development in strengthening the synergies between the UK and the Philippines, noting the former’s expertise in sustainable and green infrastructure development aligned with what the BCDA is trying to achieve.

The British Chamber has been advocating for increasing the opportunities for foreign investors, particularly, the British business presence in different strategic economic locations in the country.

It continues to identify the Philippines as an important trading partner of the UK and remains an investment destination in the Southeast Asian region.