Bcda, peza ink accord For clark business ease

NEW CLARK CITY — The Bases Conversion and Development Authority (BCDA) and the Philippine Economic Zone Authority (PEZA) signed a memorandum of agreement (MOA) that will enhance the ease of doing business here.

MOA SIGNING (From left) PEZA’s Acting Group Manager Rowena Naguit and Director General Tereso Panga, with the BCDA counterparts President and CEO Joshua Bingcang and Chairman Hilario Paredes, show the signed a memorandum of agreement that will enhance ease of doing business in New Clark City. CONTRIBUTED PHOTO

The move was aimed at creating a more business-friendly environment within 9,450-hectare New Clark City (NCC) where the said agencies will jointly facilitate the establishment, development, and regulation of economic zones in the rising metropolis.

It will also arrange capacity-building programs, encompassing training sessions, and technical workshops; policy consultations; and synchronized investment promotion activities designed to showcase NCC's potential.

BCDA President and CEO Joshua Bingcang said that by working hand-in-hand, the two state bodies will leverage on their expertise to streamline processes, harmonize regulations, and create a more seamless experience for businesses operating in the area.

Leveraging their strengths as key investment promotion agencies, both agencies will work together to formulate and implement targeted investment attraction strategies, including developing comprehensive policy roadmaps to guide investment and applying impactful marketing campaigns to boost NCC's profile.

These efforts will be specifically designed to attract high-value industries and regional business enterprises (RBEs), encouraging them to establish a significant operational presence within the city.

All investment commitments secured through the plan will be directly attributed to BCDA which will increase its investment portfolio.

PEZA Director General Tereso Panga noted that the strategic division of roles capitalizes BCDA's property development and estate management expertise while PEZA complements strengths in foreign direct investment acquisition, investor retention, and its valued one-stop shop services.

"Through this partnership, [we] are proud to extend its investment facilitation mechanisms to support RBEs within BCDA-administered economic zones. By combining our institutional strengths with BCDA's vision of a smart, green, and resilient metropolis, we aim to attract world-class investors, bring in strategic investments, and create meaningful employment for Filipinos," he said.

BCDA Chairman Hilario Paredes expressed strong confidence in the collaboration, noting that BCDA will benefit from PEZA's extensive experience in the administration of ecozones and best practices in attracting and facilitating investments in the BCDA properties.

BCDA is transforming Clark into Asia's next smart investment destination. This strategic development is poised to decongest Metro Manila and catalyze socioeconomic growth across Central and Northern Luzon, contributing to the Marcos administration's Build Better More economic agenda.