CAPAS, Tarlac – A group of local and regional bank analysts, portfolio strategists and economists visited the developments and ongoing construction at New Clark City here on Wednesday upon the invitation of the Investor Relations Office (IRO) of the Bangko Sentral ng Pilipinas.
The visit was part of the government’s campaign to drum-up awareness of the country’s boldest infrastructure agenda.
Around 50 people coming mostly from the banking industry, comprised the latest group to tour the site organized and hosted by the Bases Conversion Development Authority (BCDA).
They were welcomed at the construction site by BCDA president/CEO Vivencio “Vince” B. Dizon who gave an overview of the Phase 1A of the development of the New Clark City that will be the venue for the 2019 Southeast Asian (SEA Games).
Details of the plans and projects were provided through separate presentations delivered by top executives from the private-sector investors including Alloy MTD Philippines president Mico David and Architect Royal Pineda.
Presentations on developments in the Clark Freeport Zone were later delivered by Clark Development Corp. (CDC) executive Rodem Perez and Clark International Airport Corp. (CIAC) official Darwin Cunanan at the newly-opened Clark Marriott Hotel.
Before heading to Manila, the guests were given a quick tour of the construction of the Clark International Airport’s new terminal building which is expected to accommodate additional eight million passengers annually.
“We are in exciting times. The Philippines is undergoing massive infrastructure transformation pushing the economy toward its next stage of development and we are eager to take everyone onboard in this journey,” Dizon said.
New Clark City will be the country’s first smart, green and resilient city. It is expected to be a major alternative growth hub outside Metro Manila. It covers an area of about 9,450 hectares.
Currently being constructed is Phase 1A, which is about 40 hectares and is targeted to be completed by September 2019. Phase 1A will house the National Government Administrative Center (NGAC) and a world-class Sports Complex as the venue of the SEA Games next year.
NGAC will be a location for government offices and a housing village for government workers. The Sports Complex will include a 20,000-seating capacity Athletic Stadium, a 2,000-seating capacity Aquatic Center and 1,000-capacity Athletes Village.
The sports facilities will be used next year during the Philippines’ hosting of the 2019 Southeast Asian Games in November to December 2019.
Various commercial and industrial areas will be constructed in the succeeding phases of New Clark City.
New Clark City is owned by BCDA and is being developed with private-sector partners, including MTD Philippines and Filinvest.
According to BSP-IRO Director Elizabeth Victoria Medina-Navarro, “Inviting stakeholders to witness for themselves, actual unfolding and realization of the Build, Build, Build program is an effective way to demonstrate the government’s commitment and political will to increase country competitiveness and to harness the Philippines’ potential as a major investment site, not only in the region, but in the world.”
