The Clark Development Corporation (CDC) conducted a benchmarking activity on 11 April with the Incheon Free Economic Zone (IFEZ) as the two agencies aim to boost manufacturing and business process outsourcing (BPO) inside this Freeport.
The benchmarking followed the Philippine Investment Forum, the first stop of the CREATE MORE Roadshow, recently held in South Korea.
According to a CDC official, leveraging the strengths of both economic zones will facilitate technology transfer, improve supply‑chain efficiencies, and attract more foreign direct investments. She added that the partnership will give local businesses opportunities to expand operations and access new markets, contributing to the region’s overall economic growth.
“This collaboration aims to strengthen manufacturing, raw material sourcing, and BPO services, including the relocation of cosmetic and beauty product manufacturing to Clark Freeport Zone. The initiative is expected to create a more dynamic and competitive economic environment in Clark,” she said.
The Philippine Investment Forum highlighted the Philippines’ strategic advantages, including preferential tariffs, robust free‑trade agreements, and enhanced incentives under the CREATE MORE program. It provided insights into the business climate, policy directions, and sectoral investment opportunities, laying the foundation for partnership discussions between CDC and IFEZ.
The mission was led by the Office of the Special Assistant to the President for Investment and Economic Affairs (OSAPIEA), in coordination with the Department of Trade and Industry (DTI) and the Board of Investments (BOI).