CDC RAMPS UP EFFORTS TO ATTRACT GLOBAL INVESTORS

BY KEVIN GALANG

CLARK FREEPORT — The Clark Development Corporation (CDC) is intensifying its efforts to lure  more investors to the Freeport. 

CDC president and CEO attorney Agnes VST Devanadera has met with 17 Taiwanese companies alongside Manila Economic and Cultural Office (MECO) chairperson attorney Cheloy Velicaria-Garafil.

The meeting focused on CDC’s commitment to maintaining a robust business environment for locators, who have contributed to the Philippine economy.

Devanadera highlighted the importance of open communication with locators to address challenges effectively and foster collaboration.

“Let me first express our sincere appreciation at CDC because this community has never given us problems. It is probably because our lines of communication have always been open. Any difficulty, we talk,” Devanadera said.

The CDC chief encouraged Taiwanese businesses to explore new revenue streams by trading with fellow locators. This initiative is part of the business interdependence program launched last year.

“We mean business. We want to help you because we know you’re here since we promised you a good business climate. So, on top of the good business climate, we encourage you to do business with one another,” she added.

Garafil echoed the sentiment, highlighting the readiness of Taiwanese investors to expand their footprint in the Philippines.

“I can see the sincerity of the Taiwanese people to do business in the Philippines. So, that’s why I was telling Ma’am Agnes (Devanadera) that we should take advantage of their very open invitation, very open collaboration with us,” Garafil said.

As of September 2024, Taiwanese firms in Clark have generated 2,076 jobs, with a total of $190.62 million in investments, and $10.32 million worth of exports, as recorded by CDC’s Investment Promotions Division II office.

Among the Taiwanese companies present at the meeting were BB International Leisure and Resort Development Corporation, Bestelement Industrial Ltd. Inc., and Fwu Kuang Enterprises Corporation.

Other attendees included Multi-Tek Fasteners Incorporated, Haitima Clark Corporation, and MSK Group Work Clark, Inc.

Also present were Chitai Industry Philippines Inc., Baynant Inc., and Kaixin International Corporation.

Among Taiwanese investors in Clark included Win Formula, Inc., ALJ Outdoor Games Inc., and EFNA Global Outsourcing Inc..

EVA Airways Corporation, Starlux Airlines Co., Ltd., and Jade True Energy Solutions Corporation were also present during the meeting.