CLARK FREEPORT – The Clark Development Corp. and the Incheon Free Economic Zone (IFEZ) have formed a strategic partnership to foster business interdependence, following a benchmarking activity last April 11.
This collaboration aims to strengthen manufacturing, raw material sourcing, and BPO services, including the relocation of cosmetic and beauty product manufacturing to Clark Freeport Zone. The initiative is expected to create a more dynamic and competitive economic environment in Clark.
CDC president and CEO Atty. Agnes VST Devanadera emphasized that leveraging the strengths of both economic zones will facilitate technology transfer, improve supply chain efficiencies, and attract more foreign direct investments. She added that the partnership will provide local businesses with opportunities to expand their operations and access new markets, contributing to the region’s overall economic growth.
The benchmarking activity with IFEZ followed the Philippine Investment Forum, the first stop of the CREATE MORE Roadshow, recently held in South Korea. The forum highlighted the Philippines’ strategic advantages, including preferential tariffs, robust free trade agreements, and enhanced incentives under the CREATE MORE program. It provided insights into the Philippine business climate, policy directions, and sectoral investment opportunities, laying the foundation for partnership discussions between CDC and IFEZ.
The mission was led by the Office of the Special Assistant to the President for Investment and Economic Affairs, in coordination with the Department of Trade and Industry and the Board of Investments. CDC-PR
