The Philippines is hoping to attract investment from Taiwan in a green city project aimed at creating economic growth and encouraging sustainable development, according to the head of the agency responsible for the project.
The state-owned Bases Conversion and Development Authority (BCDA) is planning to build the green city in the Clark Special Economic Zone and is seeking the participation of investors from the Philippines and abroad, said BCDA President and CEO Arnel Casanova.
The development of the Clark Green City is expected to attract investment, generate job opportunities, boost the economy and sustain growth, he told the Taiwanese media in a recent interview in Manila.
The proposed 9,450-hectare green city will lie in the heart of the Clark Special Economic Zone and be divided into five districts, according to Casanova.
The government district will target regional offices of national government agencies and agencies governing operations of the city, and develop connectivity infrastructure to support data centres for government offices and e-governance platforms.
The business district will be open to residential developments, business processing outsourcing operations and light manufacturing, according to BCDA’s development plan for the former US military base.
An innovative district will focus primarily on attracting national and international academic institutions to develop strong university-industry partnerships and create a hub for the creative sector.
The University of the Philippines, the country’s premier state university, will set up a new global campus there.
The area for agriculture-forestry research and development will target sustainable agriculture and hopes to become the country’s new food processing center.
Finally, the district for wellness and eco-tourism will promote sustainable forest landscapes and provide facilities for wellness, recreation, retirement, and adventure tourism.
Asked about the possibility of cooperation with Taiwan, Casanova said that “Taiwan is very well developed in agriculture” and applies high technology in its industrial sector. He hoped that Taiwan will share that experience.
“We want to know your modern technology in processing and packaging foods” and see what can be applied in the city’s agriculture zone, he said.
The two sides may explore the possibility of cooperation at the upcoming meeting of the Taiwan-Philippines Joint Economic Committee, he added.
The agricultural zone in the center is expected to have easy transportation access to the seaport and airport nearby, making it a convenient base from which to export agriculture products to other Asia-Pacific countries, Casanova said.
Clark Green City is near Clark International Airport and 30 minutes away from the deep sea port of the Subic Bay Freeport Zone via the Subic-Clark-Tarlac Expressway, according to the BCDA.
The development authority is offering several incentives to potential investors, including a 5 per cent concessional tax rate on gross income, and tax and duty-free importation of raw materials, capital equipment and machinery, and spare parts, it said.
The development plan will be carried out in stages, with approximately 59 billion Philippine pesos (US$1.31 billion) to be invested in the project’s first five-year phase to 2019, the agency added.
Once it is fully completed, Clark Green City is expected to generate approximately 1.57 trillion Philippine pesos in economic activity per year for the local economy and generate 925,000 jobs, Casanova said.
Established in 1992, the BCDA is responsible for transforming former military bases and properties into centers of economic growth in partnership with the private sector and aims to create sustainable urban communities for Filipinos.
Successful examples include the Bonifacio Global City, where a cluster of commercial buildings and high-end restaurants and shops has been formed, and Newport City, which boasts luxury hotels, high-end restaurants and a casino to attract foreign tourists.
