Foreign investment continues to come into Clark with many firms drawn to the region by the “Build, Build, Build” infrastructure program. These plans are helping transform it into a large metro outside of the National Capital Region. Projects, such as the Clark International Airport expansion, have made the area more viable to overseas companies.
According to the Clark Development Corp. (CDC) Business Development and Business Enhancement Group, foreign investment in Clark rose by 43 percent last year when compared to 2020.
National Economic and Development Authority Officer-in-Charge Undersecretary for Investment Programming Group, Roderick Planta, told the Philippine News Agency that many of the infrastructure projects under the “Build, Build, Build” program are benefitting Central Luzon. This, in turn, is attracting greater investment into Clark.
Related: Clark hailed as a smart, green and disaster-resilient metropolis
Experts also see the potential of Clark
Many leading experts continue to promote the potential of Metro Clark with JLL Philippines the latest to champion the region’s property market. The consultancy believes improved infrastructure will help support growth and make it an attractive alternative to Metro Manila.
“All roads lead to Clark. Improved infrastructure is being put in place to make it more accessible now – major highways such as the North Luzon Expressway and Metro Manila Skyway Stage 3, the Clark International Airport, and soon, the North–South Commuter Railway,” Ian Perez, JLL Philippines Director for Capital Markets, told the Manila Times. “Living in Metro Clark and working in Metro Manila central business district, and vice versa, has now become more viable,” he said, emphasizing that infrastructures are being built to make traveling between Metro Manila and Metro Clark take 45 minutes (one way).
Businesses in the Philippines have begun to explore viral diversification, or the need to be more geographical diverse to help them cope with future pandemics. This is another reason JLL Philippines is bullish on the potential of Metro Clark.
“(Businesses) have adopted a ‘hub-and-club model’ where they will maintain a head office (club) in Metro Manila for interactions such as client meetings and town halls and expand through satellite offices (hubs) in the provinces, which may be closer to where employees live. Metro Clark will serve as one of these hubs,” Perez stated.
