Clark secures P44.4 billion investments in Q1 

Clark Development Corp. (CDC), which oversees the Clark Freeport Zone, on Sunday, said it secured P44.4 billion in investment commitments as of the second week of March, primarily made of direct leases with the agency, according to a report by GMA News.

In an emailed statement, the CDC said the investments involved renewable energy, tourism, semiconductors, electronics, pharmaceuticals, medical devices, green minerals, food and agriculture, and steel.

“With these investments and expansions, Clark anticipates adding 5,833 employees to its workforce, thereby boosting employment opportunities in the region,” the statement read.

Among the commitments cited by the agency are the tourism and leisure estates developer Donggwang Clark Corporation with P20 billion, and integrated resort and water theme park facilities developer BB International Leisure and Resort Development Corp. with P15 billion.

The CDC said electronics manufacturer DeviceDesign Philippines Corp. had invested an additional P103 million for its expansion plans, while Yokohama Tire Philippines Inc. would be pouring in an additional P3.56 billion to expand its operations.

Local investors include the Clark Water Corp., which allocated P5.56 billion for service improvement projects, the Philippine Exporter Foundation Region III with P30.6 million for a lifestyle showroom and pasalubong center.

Other commitments included those from Habibia Corp. with P22 million, JBW Floor Center Inc. with P5.8 million, Otonari Food OPC with P40 million, and Nationstar Development Corp. with P126.95 million.

“On behalf of the national government and the country, thank you for your continued interest in investing in the Philippines, particularly in Clark,” Special Assistant to the President for Investment and Economic Affairs Secretary Frederick Go said.