CDC President/CEO Tugade and Mizuho Bank GM Tsunoda sign agreement.
PHOTO BY DING CERVANTES
CLARK FREEPORT – Executives of the Mizuho Bank, one of Japan’s top financial institutions, committed here yesterday to promote to investors in Japan this freeport as “7-to-10-minute marketing package.”
The state-owned Clark Development Corp. (CDC) and Mizuho Bank Ltd. signed yesterday a memorandum of understanding (MOU) on this, with the Japanese bank executives vowing to lure its banking clients in Japan into
investing in Clark. This, even as the CDC disclosed that this year up to last Oct. 31, exports of businesses
here were estimated to be already worth US$3.06 billion.
It also bared plans to reduce significantly the cost of electricity here by building a 375-megawatt plant exclusively for the need of Clark investors. Briefing Mizuho Bank executives, CDC President- CEO Arthur Tugade urged them to promote Clark as a “7-to-10-minute marketing package.”
He said Japanese businessmen would find Clark ideal for investments since this freeport would be only seven to 10 minutes from an international airport, schools, markets, malls, hospitals, branches of government offices for immigration and internal revenue, golf courses and other such needs.
“There are century old trees, no pollution, and no traffic within the zone. Clark is gated so Japanese investors will feel secure, on top of the security to come from surrounding local government units,” he said. Tugade also told the bank executives that his personnel risk being fired for asking or receiving gifts from investors.
CDC Vice President for Marketing Mariz Mandocdoc told the bank executives that employment within the freeport has risen to 72,695, the highest since the CDC was created in 1993. She also said that the 30-hectare Japan Industrial Park here has already been filled up, another 24-hectare area is being developed for the second phase of the Japan Industrial Park, on top of another 100-hectare industrial estate.
In his speech, Mizuho Bank General Manager Masato Tsunoda expressed confidence that his bank’s clients would consider investing at Clark, as he noted that the Philippines has now being getting attention worldwide for its economic performance. He noted that his bank has 77 branches worldwide.
