PH pitches Central Luzon to South Korean firms

NEW CLARK CITY Positioned as “smart, green” city —FILE PHOTO

The Philippine government has urged South Korean firms to consider investing in Central Luzon, pitching the region as an ideal investment destination for them to set up shop or expand operations.

On Tuesday, the Bases Conversion and Development Authority (BCDA) said that a delegation from Central Luzon recently held an outbound business mission to South Korea to introduce Region 3, including New Clark City, as an ideal investment destination.

Aside from the BCDA, representatives from the Department of Trade and Industry (DTI), Authority of the Freeport of Bataan and the local governments of the provinces of Aurora, Bataan, Tarlac and Zambales were part of the mission.

‘Centrality of location’

Tarlac Governor and Central Luzon Growth Corridor Foundation Inc. (CLGCFI) president Susan Yap touted Central Luzon as one of the leading growth areas in the country.

“First, the centrality of our location. It is easily accessible within two- to four-hour air travel from Korea,” Yap said, highlighting as well the expanding infrastructure in the region, saying it is on its way to becoming a single, contiguous geographic and economic growth corridor providing world-class logistics, infrastructure and services.

She also highlighted several freeport zones in Central Luzon, which include the Clark, Subic and Bataan Freeport Zones.

Another freeport zone highlighted during the trade mission was New Clark City in Tarlac, which is being pitched as a smart, sustainable, green city seen to become a significant economic growth driver in Central Luzon.

Leilani Macasaet, vice president for public affairs of BCDA, urged Korean investors to consider locating in New Clark City or participating in future projects and developments in the area.

A free trade agreement between the Philippines and South Korea is expected to be signed early next year, which is seen to improve trade and investment relations between the two countries.