China eyed as top partner in development of New Clark City

MANILA, Philippines — The Bases Conversion and Development Authority (BCDA) wants to engage China as a major partner for the development of New Clark City, the state-run agency’s top executive said.

BCDA president and CEO Vince Dizon said they are seeking the involvement of large Chinese companies, particularly manufacturing and construction firms, for the realization of the 9,450-hectare New Clark City as the country’s first smart, green and disaster-resilient metropolis.

“China has a huge potential to be our partner in Clark, primarily as an investor. Remember, the biggest manufacturing firms in the world are in China,” Dizon told The STAR.

“I think with the mindset of the Chinese government now to think globally, to really look outward, I think our new partnership that has been fostered by President Duterte will result in huge inflow of Chinese investments into the country and Clark is a huge potential simply because there is so much land,” he added.

BCDA earlier entered into a memorandum of understanding with China Development Bank (CBD) to collaborate over a five-year period in determining the most cost-effective and efficient financing option for BCDA’s projects in Clark and Metro Manila.

The collaboration will also cover the research, study and implementation requirements of BCDA’s major infrastructure projects.

Dizon, however, pointed out that BCDA will not give preference to Chinese investors, saying that New Clark City is open to investors of any nationality.

“There’s huge potential for everybody to be involved. The project is so big and the components are so many that all countries and all companies can get involved,” he said.

BCDA has already inked agreements with Japan Overseas Infrastructure Investment Corp. for transport and urban development and Surbana Jurong of Singapore to collaborate in the development of New Clark City.

Malaysia’s MTD Capital Bhd., meanwhile, is set to develop a National Government Administrative Center within New Clark City.

The 9,450-hectare development is envisioned to be a new metropolis that will rise in the Clark Special Economic Zone which straddles Capas and Bamban towns in Tarlac.

It is designed to be the country’s first smart, green, disaster-resilient city, where nature, lifestyle, business, education and industries converge, and will be at par with other modern cities in the world.