The Bases Conversion and Development Authority (BCDA) would like to correct and clarify the false news that have been coming out regarding FedEx’s planned operations in Clark, Pampanga.
“We have been talking to FedEx and as far as we know, this move is not because of any plans to move out of China, but rather, a part of its ongoing expansion throughout the Asia-Pacific region. We are not however at liberty to disclose any details of the ongoing talks at this time,” says BCDA President and CEO Vince Dizon.
Both the Philippine Embassy in Washington D.C. and FedEx have issued separate statements correcting the false news.
Philippine Ambassador to the US Jose Manuel Romualdez “clarified that he was taken out of context and he was only highlighting the fact that the Philippines, being a traditional economic partner of the US, and which has sustained growth of the economy, rise in competitive and innovation rankings, improved infrastructure, and a highly professional, young, and dynamic workforce — has become an even more attractive investment destination for US companies in recent years.”
FedEx, for its part, said the “story is unequivocally incorrect” and that it “is not relocating and has no plans to relocate its Asia-Pacific Hub.”
“FedEx’s planned operations in Clark is part of their ongoing expansion throughout the Asia-Pacific region,” its statement read.
A key economic partner of the US, the Philippines has become a more attractive destination for US companies and investors because of its sustained inclusive growth, positive international credit ratings, and improved infrastructure.
“FedEx will be a welcome addition to the growing number of locators in Clark, signifying its position as a strong growth driver not just in Central Luzon but in the country as well,” Dizon points out.