State-run Bases Conversion and Development Authority (BCDA) has forged an agreement with the Incheon Free Economic Zone Authority (Ifeza) to explore potential collaborative opportunities between South Korea’s international business district and the local agency’s planned Clark Green City.
In a statement, BCDA president and CEO Arnel Paciano D. Casanova said the P59-billion Clark Green City was envisioned to become the “international business hub of the Southeast Asian Region” that could complement and create synergy with the Songdo International Business District.
“The memorandum of understanding is a first step, and with further discussion, it can lead to a possible strategic relationship between BCDA and Ifeza to foster technical cooperation that encompasses the whole range of assistance activities designed to develop human resources,” Casanova said.
“The BCDA’s vision is a community with embedded innovative IP-enabled technology in a green and sustainable city that will serve as the backbone to facilitate solutions to promote new economic opportunities,” he said.
The signing ceremony was done via video teleconferencing with Ifeza Commissioner Jong-Cheol Lee in South Korea and Casanova in Makati.
Under the MOU, the BCDA and Ifeza have also agreed to pursue “cooperation and develop synergies toward common goals through building on each others respective strengths and advantages.
This is expected to be achieved “by providing assistance aimed at strengthening individual and organizational capacity by providing technical training and expertise; technical assistance to personnel involved in the implementation and the management of the CGC; assistance for the implementation of joint studies on cooperative matters in the areas of mutual interest; and sharing of implementation policy and regulatory know-how regarding free economic zones or special economic zones.”