Ease of doing business attracts foreign investment
Clark Freeport has always been an ideal destination for foreign investors due to its tax incentives, location, and infrastructure development. And with the passing of the Ease of Doing Business Act, it should continue to impress businesses from overseas.
Global Gateway Development Corporation (GGDC) Chief Investment Officer Evan McBride commended the Clark Freeport Zone, which is managed by the Clark Development Corporation (CDC), for its “very transparent business process.”
“For an investor that is first coming in, we can attest to the ease of actually investing and doing business in the Freeport Zone versus going somewhere else in the Philippines,” said McBride in a briefing held in Clark, Pampanga.
He also added that the company has a “true partnership with the Philippines” as it has been investing hundreds and millions of dollars in the last decade. In fact, GGDC is the developer of the 177-hectare Clark Global City, previously known as Global Gateway Clark.
Meanwhile, CDC President and CEO Noel Manankil affirmed that there is no red tape in Clark. Locators applying in Clark deal with only one department, and all investment processes are automated.
Apart from efficient government processes, Manankil also cited the other value propositions of Clark including the availability of manpower, investment climate, and the surrounding communities.
When it comes to tourism and leisure, Widus International President and CEO Daesik Han encouraged more companies from the private sector to take part in developing Clark and New Clark City, the flagship project of the Bases Conversion and Development Authority (BCDA).
Han opened his business in Clark 12 years ago with an initial investment of US$4 million. Now, the amount has ballooned to US$500 million with the construction of Marriott Hotel in Clark, which is targeted to open by September, and the expansion of the Widus Hotel and Casino.
Han said that the participation of the private sector in building recreational facilities is important so as not to limit Clark to being merely a transit area.
via Manila Bulletin / Mar Supnad
