Three logistics giants are setting up shop in one of New Clark City’s, or NCC, future developments, occupying at least 20 hectares of land in the country’s first green, smart, sustainable and disaster-resilient metropolis.
The operation of the three logistics firms will be worth more than $1 billion. They picked Clark as their Asian hub, extending operations in neighboring countries such as Japan, Singapore, Korea, and Hong Kong using about 18 aircraft.
“These companies will bring more revenues. But for me, what is important is the brand image they will bring. For the longest time, we have been bypassed by Vietnam and Thailand for these kinds of investments. So, with these companies being there, that is a seal of approval for foreign investment choosing Clark and the Philippines. Thousands of jobs will be produced, especially high-skilled labor,” Joshua Bingcang, the president and chief executive officer of Bases Conversion and Development Authority, who is also the regulator of NCC, said.
Bingcang, however, withheld the identity of the three companies pending an announcement before the end of the first quarter.
Logistics fine-tuned
“What we are working on right now is coordination with the Bureau of Customs to make sure the movement of goods is supported. We have to go along with counterparts in terms of global supply chain movement, to make sure that the local regulatory environment and regime are supportive and conducive to this kind of business,” he added.
BCDA chairperson Delfin Lorenzana said in a forum last December that the state agency’s total contribution to the Armed Forces of the Philippines’ Modernization Program and the expansion of military facilities has amounted to P78.34 billion from May 1993 to October 2023.
BCDA’s share for the AFP Modernization Program came entirely from 43 percent of BCDA’s gross disposition proceeds of P140.34 billion from May 1993 to October 2023, while P11.11 billion was generated from gross disposition proceeds, P9.69 billion came from the General Appropriations Act, and the remaining P8.94 billion represents the land value of the relocation sites of the military facilities.
