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SG investors wooed to set shop in NCC

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BCDA SVP Engr. Joshua M. Bingcang presents to Singaporean businessmen the investment opportunities available in NCC. Photo courtesy of BCDA

CLARK FREEPORT – The Bases Conversion and Development Authority and its
partner, Filinvest Land Inc. (FLI) recently wooed Singaporean investors to set shop
in New Clark City, particularly at the 288-hectare mixed-use, industrial township
project that is being developed within the rising metropolis.

“We are here today to present a business case. We hope we can convince you to
partner with us and choose us, more particularly, our New Clark City Innovation
Park project for your next business expansion in the Philippines,” said FLI
president Tristaneil Las Marias at the investment roadshow dubbed “The
Sustainable Futurecity of the Philippines,” held in Singapore last June 27 before
some 50 potential locators.

With an area of 120 hectares, the Filinvest Innovation Park forms part of BCDA
and FLI’s 288-hectare township project in NCC. This master planned development
is envisioned to be a sustainable, resilient and future-ready hub in Central Luzon.
FLI senior vice president Francis Ceballos presented the status of the project, and
highlighted the industrial park’s readiness to welcome locators. Particularly, the
FLI official said construction power is now ready and available at the park. Water
and wastewater utilities, meanwhile, will commence commercial service by early
2023. The first batch of ready-built factories will likewise be available by next
year.

“Phase 1 (of the Filinvest Innovation Park) is now ready to accept locators looking
to construct their own facilities, particularly, companies involved in the fields of
logistics, e-commerce, light manufacturing, and data center operations,” Ceballos
said.

The roadshow was well-received by Singaporean investors, with some expressing
interest to visit NCC for a tour.

“We are quite pleased with the keen interest of the event’s attendees in NCC, in
general, and Filinvest New Clark City, in particular, especially for the Filinvest
Innovation Park as a location for establishing future industrial facilities in the
Philippines,” Ceballos said.

Investment opportunities

At the roadshow, BCDA senior vice president for conversion and development
Engr. Joshua Bingcang gave updates on NCC and told Singaporean investors that
the state-run corporation is looking for private sector partners to implement
various projects in the area.

“We are already at the Phase 1 of development. We are done with planning, we
are already at the implementation stage. We have investment opportunities that
are very much welcome for our business partners,” he said.

Among the investment opportunities he presented are the establishment of: a
multi-modal transport hub; eco-theme parks and ecotourism spots; mixed-use,
retail, and food and beverage establishments; research and knowledge-based
pharmaceutical and medical facilities; and a data center colocation facility.

BCDA is also looking for partners for the implementation of the NCC Pilot
Affordable Housing project, the NCC Common ICT corridor, and the solid waste
management and waste-to-energy project; the provision of estate management
services; and the operations and maintenance of its sports facilities.
Competitive advantages

To further entice investors to consider NCC, Board of Investments governor
Angelica Mapua-Cayas laid out the advantages that make the Philippines a
competitive investment destination in the Southeast Asian region.
Mapua-Cayas briefed delegates on the major economic reforms passed during the
Duterte administration that served as game changers for the Philippine
investment climate, including the Corporate Recovery and Tax Incentives for
Enterprises Act, Retail Trade Liberalization Act, Foreign Investments Act, and the
Public Services Act.

Meanwhile, Hi-P International Pte. Ltd. COO Jeffrey Tan attested to the
Singaporean firm’s positive experience in investing in the Philippines. The
electronics manufacturing service provider set up its facilities at the First
Philippine Industrial Park in Batangas back in 2020, and is registered with the
Philippine Economic Zone Authority.

He listed six encouraging signs for the company since setting up shop in the
Philippines two years ago: (1) fast and efficient business and company
registration; (2) availability of good industrial parks with ready buildings suitable
for manufacturing; (3) attractive tax incentives; (4) fast improving infrastructure;
(5) good living environment for expats; and (6) abundance of skilled workers in
manufacturing sectors.

Philippine Ambassador to Singapore Joseph del Mar Yap said the Philippine
Embassy in Singapore and the Philippine Trade and Investment Center-Singapore
(PTIC-SG) are ready to help investors who are eyeing to do business in the
Philippines.

“As both the Philippines and Singapore fully reopen our borders, we look forward
to more robust cooperation, trade and business, tourism and mutual exchange
between our two countries. There are many promising areas of mutual
cooperation between the Philippines and Singapore–smart city and digital
technology, financial technology, sustainable industries, renewable energy,
consumer sector, just to name a few,” he said.

The investment roadshow is part of BCDA and FLI’s aggressive marketing efforts
to bring NCC closer to the international business community, with the end goal of
attracting more businesses to Clark. It was a collaborative effort by the BCDA, FLI,
PTIC-SG, Philippine Embassy in Singapore, Singapore Business Federation and Singapore Chinese Chamber of Commerce and Industry. BCDA-Public Affairs

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