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Three logistics firms are eyeing to invest $1 billion in Clark Freeport Zone to make it their Asian hub
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Bases Conversion and Development Authority CEO Joshua Bingcang said the deal is in the final stages of negotiations
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Agreements are expected to be concluded within the first quarter of the year
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Names of the companies were not disclosed
Three logistics firms are planning to invest over $1 billion at the Clark Freeport Zone, making Clark their Asian hub, a Bases Conversion Development Authority (BCDA) official said.
BCDA president and chief executive officer Joshua Bingcang said the agreements are being finalized and may be concluded within the first quarter of the year.
He did not disclose the names of the firms. Bingcang, in an interview with a local newspaper, however, said the companies needed more aprons to park their planes.
The potential locators will contribute annual revenues of P1 billion through lease agreements and take-off and landing fees, he said.
They will develop facilities on 20 hectares of the 70 hectares designated for airside operations.
In addition, these firms are expected to generate between 3,000 and 4,000 jobs in Clark, according to Bingcang.
He expressed BCDA’s commitment to creating a “conducive environment” for the global logistics players, ensuring their integration into the business landscape.
This aligns with the goal of the Marcos administration to position the Philippines as the second-highest destination for foreign direct investments in Southeast Asia by 2028.
READ: 750-ha civil aviation complex part of Clark airport master plan
