Under the leadership of President Ferdinand R. Marcos Jr., the 9,450-hectare New Clark City in Tarlac is quickly becoming Asia’s next property and economic hub, attracting about Php150 billion in investment pledges here and abroad.
Planned and designed as a smart, sustainable, inclusive and disaster-resilient metropolis for 1.2 million residents with facilities for government, sports and recreation, mixed-use areas, and educational institutions, New Clark City has been an investment magnet for government institutions, property developers, renewable energy firms, and major tourism and hospitality brands.
Among the investment pledges are the Php12-billion Hann Reserve development of Hann Development Corporation, the Php12.32-billion Filinvest Innovation Park of the Filinvest Development Corporation, the Php20-billion Bangko Sentral Complex of Bangko Sentral ng Pilipinas, and the Php7-billion StB Giga Factory of Australia-based StB Capital Partners.\
The StB Giga investment was among the pledges received during the Philippine Business Mission, led by President Marcos Jr., in Australia in March 2024. StB Giga signed a memorandum of understanding with BCDA on the expansion of its next-generation battery manufacturing plant at Filinvest Innovation Park in New Clark City.
“These investments send a message to the world that the Philippines is now ready to innovate [and] lead to become a go-to destination for high-tech, high-impact investments,” said President Marcos Jr.
“To see this project come to fruition after just a few months is a clear vote of confidence in the Philippine economy and the Filipino talent. An investment as big as this conveys one message: Clark is able and ready to welcome more investments from various sectors across the globe,” said BCDA President and Chief Executive Officer Joshua M. Bingcang.
These New Clark City investments are expected to open up more than 100,000 jobs for Filipinos, many of which will be highly technical and focused on engineering and finance, among others.
“This is aligned with our goal of reversing the ‘brain drain’ by providing better opportunities for skilled Filipinos in science, technology, engineering, and mathematics,” said President Marcos Jr.
Constituents of Pampanga and Tarlac have welcomed this development, with most of them expressing excitement about the socioeconomic opportunities New Clark City will bring to their local communities.
Rowena Batad, a resident of Sitio Kalangitan in Tarlac, said the rise of New Clark City in Tarlac has already benefited many of her relatives who currently work for different locators and service providers in the rising metropolis. She also expressed hope that the employment opportunities brought by New Clark City development will inspire more Aetas to finish their studies and aspire more in their career.
“Gusto ko po makapag-aral yung mga Aeta kasi andito na yung trabaho sa atin ngayon, hindi na kailangan lumuwas, hindi na kailangan pumunta ng Maynila, andito na yung trabaho (I want the Aeta people to have the opportunity to study because jobs are now available here. There’s no need to travel far or go to Manila—the jobs are already here),” said Batad.
The Clark metropolis consists of Clark International Airport, Clark Freeport Zone, and BCDA’s latest flagship project, New Clark City. New Clark City is a greenfield development inside the Clark Freeport and Special Economic Zone positioned to be an inclusive, resilient, sustainable, and smart city.
Transforming Clark into Asia Pacific’s next investment hub is BCDA’s contribution to the economic agenda of the Marcos administration’s Build Better More program. Its development, which forms part of the efforts of Special Assistant to the President for Investment and Economic Affairs Frederick Go to drive investments in the country, is expected to help decongest Metro Manila and catalyze socioeconomic growth in Central and Northern Luzon. (Radyo Pilipinas)
President Ferdinand R. Marcos Jr. on September 30, 2024 led the inauguration of StB Giga Factory, the Philippines’ first manufacturing plant for advanced lithium iron phosphate (LFP) batteries, at Filinvest Innovation Park, New Clark City, Tarlac. BCDA photo
