INVESTMENT APPROVALS of the Bases Conversion and Development Authority (BCDA) are expected to exceed P100 billion this year, fueled by growing investor interest in New Clark City and upcoming projects under the US-led Pax Silica initiative.
“If we count the whole year, we will breach P100 billion in investments,” BCDA President and Chief Executive Officer Joshua Bingcang said during a forum hosted by the Foreign Correspondents Association of the Philippines on Monday.
“In a few years, we might be at the same level of the BoI (Board of Investments) in terms of investments generation,” he said.
The BCDA’s project pipeline includes the P25-million expansion of logistics apron and access roads, as well as the construction of a P155-million runway in Clark International Airport (CIA).
Also in its pipeline is the construction of a P1.4-billion apron to support logistics firms within CIA, along with a P10-billion runway and taxiway project.
“Last week, we approved the procurement for the construction of the apron. It will serve as the parking space for FedEx and UPS planes, and other logistics companies going to put up business in Clark,” Mr. Bingcang said.
Mr. Bingcang also noted that Science Park of the Philippines, Inc. is building a 106-hectare industrial park in New Clark City. Construction is expected to begin within the fourth quarter of this year.
BCDA also plans to sign a memorandum of agreement with the Home Development Mutual Fund (Pag-IBIG Fund) to build economic housing units in New Clark City for workers based in the area.
He also said that the National Commission on Indigenous Peoples (NCIP) has issued a no-objection letter for the North-South Commuter Railway (NSCR).
“So, we’re seeing now the greenlight for this project to extend all the way to New Clark City,” Mr. Bingcang said.
The 147-kilometer NSCR will connect Malolos, Bulacan with Clark International Airport, and Tutuban, Manila with Calamba, Laguna.
The BCDA is also looking to bid four hectares of land near the Market! Market! commercial property in Taguig City by the first quarter of 2027.
“Only the mall was renewed by Ayala Land, Inc. The rest will be open for public bidding… that will be the site for the Mega Manila subway station in BGC (Bonifacio Global City),” Mr. Bingcang said, noting that about four Japanese developers are interested in the property.
Meanwhile, Trade Undersecretary Ceferino S. Rodolfo said the artificial intelligence (AI)-native industrial hub in New Clark City in Tarlac under the US’ Pax Silica bloc is one of several “nodes” that will build the “Philippine technology corridor” connecting the technology value chain across manufacturing, minerals, talent, and digital infrastructure.
“Viewed separately, they are projects, but viewed through the AI lens, they become an ecosystem that creates long-term competitive advantage,” Mr. Rodolfo said at the same event.
He said the technology corridor also includes the National Capital Region (integrated circuit design hub), Batangas (an AI compute hub), Bulacan (wafer fabrication facility) and Mindanao (minerals).
Mr. Rodolfo also said that some investors are concerned by the rising negative sentiment towards the proposed Pax Silica hub in the Philippines.
“The investors are kind of — maybe too strong a word — but they are being spooked by what is happening” he said. “But for the investors, we really, really need to do a lot of confidence-building and explanations and of course, attracting their interest.”
In the first six months, BCDA-approved investments surged by 535.11% to P49.98 billion from P7.87 billion in the same period a year ago.
Investment activity was mainly in the Clark Freeport and Special Economic Zone (CFSEZ) in Pampanga and Tarlac provinces, as well as Camp John Hay in Baguio City, BCDA said.
The CFSEZ is composed of New Clark City, Clark Freeport Zone, Clark International Airport, and Clark Global City.
The aviation sector accounted for more than half or 68% of BCDA-approved investments as of end-June at P33.91 billion.
This was attributed to major foreign aviation and logistics companies expanding in Clark, including Lufthansa Technik Philippines, Inc., Federal Express Corp., and UPS International.
“Global companies are making larger and longer-term commitments to the Philippines because they see the potential to serve both the domestic market and the wider Asia-Pacific region from here,” Mr. Bingcang said.
The BCDA said that this aligns with its push to bolster Clark’s aviation ecosystem to serve the Asia-Pacific region across aircraft maintenance, repair and overhaul, cargo and logistics operations, and other aviation-related activities.
Other BCDA-approved investments are in residential (P5.9 billion), government and sports (P500 million), and hospitality (P30 million). — Beatriz Marie D. Cruz
