CLARK FREEPORT, Pampanga-Streamlined business processes and investor support services are helping strengthen Clark’s position as an investment destination, particularly for companies seeking to expand their operations in the Luzon Economic Corridor (LEC), Clark Development Corp. (CDC) President and Chief Executive Officer Agnes Devanadera said.
Devanadera highlighted Clark’s investment facilitation initiatives during the LEC Incentives Forum, where government officials discussed incentives and measures aimed at encouraging investments and industrial development along the economic corridor.
She said fiscal incentives under the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) Act are available through investment promotion agencies, making efficient facilitation and investor support important considerations for businesses.
Devanadera cited the Clark’s established industrial ecosystem and its capacity to support companies as they expand.
‘Clark’s advantage is not only in attracting investors but, more importantly, in retaining them,’ Devanadera said.
Among the services she highlighted were automatic permit renewals, real-time import and export clearances, and a one-stop shop for business requirements.
Devanadera also cited Clark’s access to a potential talent pool from 29 educational institutions as an important resource for companies looking to establish or expand their operations in the Freeport.
She said these services form part of what CDC calls its ‘red carpet’ approach to investor assistance, aimed at making business transactions more convenient and supporting investors throughout their operations.
For projects under the LEC, Devanadera described the enhanced support as ‘ultra red carpet services,’ which reflects CDC’s goal of providing assistance from the initial investment stage through expansion and long-term operations.
The forum also brought together officials from key government agencies involved in investment promotion and economic development.
Department of Finance Undersecretary Ma. Angela Ignacio moderated the forum, which featured DOF Assistant Secretary Juvy Danofrata, Philippine Economic Zone Authority Director General Tereso Panga and Philippine Board of Investments Director Sandra Marie Recolizado.
The officials discussed the CREATE MORE Act, investment incentives and efforts to streamline government processes to support businesses and industrial development along the LEC.
The forum forms part of continuing government efforts to improve the investment environment and encourage businesses to establish, expand and sustain operations in key economic areas in Luzon.