CDC intent on developing Clark into a premier economic hub

The state-owned Clark Development Corp., or CDC, is all hands on deck to strengthen the position of the 4,400-hectare Clark Freeport and Special Economic Zone in the province of Pampanga as an essential economic hub in the country.

During her speech at the 23rd Weekly Rotary Club of Manila Meeting last Thursday, 11 January 2024, CDC president and CEO Agnes VST Devanadera said the agency is carefully reviewing its policies and programs to help it create a more inclusive business environment in the Freeport.

Innovations

Devanadera announced that the CDC is working on innovations such as blockchain technology to make it easier for businesses to use their land as collateral, which, she said, could further attract investors to come to Clark, Pampanga.

“Now we are designing the title or leasehold rights because now we have found the technology that will increase the readability of the title which is blockchain and soon we will be issuing so that. We can unlock the wealth that is under a lease agreement. Hopefully, we can help the businesses access more wealth, more revenues to be used in their operations,” Devanadera said.

In partnership with other government bodies and the private sector, Devanadera said the CDC is well on its way to delivering improved facilities and services across the freeport zone.

Committed to inclusive growth

Likewise, the CDC chief disclosed that it will remain committed to upholding inclusive growth to improve the lives of their employees and residents.

Among others, she said they are now working on a family care center for CDC employees and implementing green building codes.

Based on CDC’s reported figures, the investment commitments in the Clark Freeport Zone reached P2.3 billion in 2022 alone, while its revenue reached P3.56 billion in 2022.

The CDC anticipates a strong performance this year in terms of investment commitments, revenues, and dividends to the national government.

Its mandate is to fully transform Clark Freeport Zone into a modern, sustainable metropolis and the preferred destination for meetings, incentives, conferences, exhibits, and tourism in the Asia-Pacific region by 2030.

Top location choice for businesses

The CDC also aims to make the Freeport a top location choice for businesses, providing long-term economic returns for investors.

CDC is responsible for overseeing the day-to-day operations in Clark, ensuring that a viable business environment is maintained for employees, investors, residents, and all other stakeholders.

The agency’s policies are aimed at helping create a profitable business climate inside the Freeport while also boosting the economies of local communities in and around the Clark area.