TAIPEI (Taiwan News) — The Philippines is reportedly seeking greater Taiwanese investment in the Clark Freeport and Special Economic Zone.
The Clark Development Corporation, a state-run enterprise, aims to make Taiwanese businesses a key part of the business hub in Central Luzon. In recent weeks, Clark Development Corporation President Agnes Devanadera has held consultations with at least 17 Taiwanese firms to discuss potential collaborations, according to the Manila Bulletin.
Cheloy Velicaria-Garafil, chairperson of the Manila Economic and Cultural Office in Taipei, confirmed that many Taiwanese businesses are interested in investing in the Clark Freeport Zone. As of late 2024, Taiwanese investments in the zone exceeded US$190 million (NT$6.2 billion), with exports from Taiwanese firms totaling over US$10 million.
The Manila Bulletin reported that the Clark Development Corporation has engaged with Taiwanese companies including EVA Airways, Starlux Airlines, the MSK Group, BB International Leisure and Resort Development Corp., Bestelement Industrial, Chitai Industries, Fwu Kuang Enterprises, Baynant Inc., Win Formula, Multi-Tek Fasteners Inc., ALJ Outdoor Games, Kaixin International Corp., Jade True Energy Solutions Corp., and Haitima Clark Corp.
Located near Clark International Airport, the Clark Freeport Zone is envisioned as a major international hub for industries such as aviation, education, and tourism. The Philippine government expects that the Freeport Zone, along with the nearby New Clark City, will eventually create over 600,000 jobs.
In recent years, Taiwanese representatives to the Philippines have collaborated with the Philippine Board of Investments to facilitate partnerships between Taiwanese firms and local companies as the development zone progresses.
Duncan DeAeth - Taiwan News
12 Jan. 2025
Philippines seeks Taiwan partners to develop Clark Freeport Zone