Taiwanese firm eyes $1 billion plant in Clark

MANILA, Philippines — A Taiwanese technology firm plans to invest $1 billion for a manufacturing facility in New Clark City, according to the Bases Conversion and Development Authority (BCDA).

“It’s a billion-dollar investment that will bring billion-dollar exports,” BCDA president and CEO Joshua Bingcang told reporters.

He said the BCDA and the Taiwanese firm have already signed an agreement for the investment but declined to name the company.

The firm’s manufacturing facility is expected to be located in the Filinvest Innovation Park in New Clark City.

Bingcang said the firm plans to produce technology products.

“This is what we need to shore up our manufacturing base,” he said.

“This is where BCDA will play its role in national development,” he said further.

Located in New Clark City in Tarlac, the Filinvest Innovation Park is a 120-hectare industrial park for mixed-use development ready for locators.

New Clark City is among the areas being promoted for investments by the BCDA.

Other investment platforms in the BCDA’s portfolio include the Clark Freeport Zone, Clark International Airport, Camp John Hay and the Poro Point Freeport Zone.

The BCDA wants to attract investments in strategic industries, infrastructure, logistics, tourism and other economic activities to help create jobs.

For this year, Bingcang earlier said he expects investments approved by the BCDA to reach over P100 billion, citing strong investor interest.

From January to June, investments approved by the BCDA surged by 535 percent to P49.96 billion from P7.87 billion in the same period last year.