BCDA, Korean businesses ink Clark investment deals

New Clark City – The Bases Conversion and Development Authority (BCDA) has signed three new memoranda of understanding (MOUs) with Korean business experts to position New Clark City as Asia’s preferred investment and tourism destination.

These agreements, signed during the Philippines-Korea Business Forum at Manila Hotel, focus on smart city infrastructure development, including a proof of concept for an eGovernment digital platform. This platform aims to serve as a one-stop shop, providing citizens and locators with access to city information, web-based services, and online transactions.

The BCDA also partnered with the Korea Overseas Infrastructure and Urban Development Corporation (KIND) to explore affordable residential communities in New Clark City. This initiative seeks to develop sustainable, cost-effective housing projects for Filipino families.

In addition, on 8 October, 2024, BCDA signed an MOU with Korea-based Fine TME to study efficient operations and maintenance of New Clark City’s sports facilities, aiming to promote the area as a premier hub for sports events in Asia.

“The willingness of our Korean partners to share their expertise in building smart, inclusive cities will help us set global standards on urban development in the country through New Clark City. We are confident that with their expertise and technical know-how, we can further transform New Clark City into the Philippines’ model of urban development catalyzed by smart city and sustainable technologies,” said BCDA President Joshua Bingcang.

These initiatives align with President Ferdinand R. Marcos Jr.’s Build Better More program and the United Nations Sustainable Development Goals, particularly SDG 9, which promotes resilient infrastructure and sustainable industrialization.