SG, EU eyeing Clark Green City | Inquirer Business

SG, EU eyeing Clark Green City

/ 12:34 AM July 15, 2016

State-run Bases Conversion and Development Authority (BCDA) is pursuing talks with prospective investors from Singapore and the European Union who are currently scouting for potential opportunities and partnerships for the development of the 9,450-hectare Clark Green City.

BCDA president and CEO Arnel Paciano D. Casanova said the agency was in talks with Singapore companies led by Temasek Holdings Private Ltd., an investment firm owned by the government of Singapore.

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“We need to pursue (this interest) because Singapore, and not only Temasek Holdings, is looking at the Philippines as a good investment destination considering that the country has been performing very well economically,” Casanova said.

He said talks with Temasek and other companies began when former President Aquino visited Singapore last year. He said the firms were seeking to copy the urban and industrial estate development they introduced in China and India.

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The BCDA chief also said the agency was in exploratory talks with investors from the EU. A group of French investors, specifically, has embarked on a mission to look for possible areas to develop such as logistics and agriculture, he said.

The BCDA signed last year a memorandum of understanding with Vivapolis, an organization of public and private French stakeholders involved in urban development. The goal was to cooperate on sustainable city planning, infrastructure and utilities, clean technology, sustainable resource management, among others.

Clark Green City is a 9,450-hectare area within the government-owned Clark Special Economic Zone. Once fully developed, it is expected to contribute a gross output of approximately P1.57 trillion per year to the national economy. Amy R. Remo

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