CITY OF SAN FERNANDO, Pampanga (PIA) — Favorable business climate inside Clark Freeport Zone continues as investments reached P5.57 billion, as of June 2023.
Clark Development Corporation (CDC) was able to contribute P1.207 billion to the national coffers in May, which is equal to about 50 percent of its net income.
CDC President and CEO Agnes Devanadera said this is attributed to the state firm’s proactive efforts to enhance the business environment, automate processes, and establish clear investment priorities.
“We are very committed to supporting investors and contributing to the nation’s economic growth. We prioritize ease of doing business by automating our processes. We also maintain a manpower registry and we have a strong partnership with the Technical Education and Skills Development Authority. Our training programs are investor-driven and locator-identified,” she added.
Among these initiatives include implementing electronic trade permit applications, permit monitoring systems, revenue monitoring systems, and electronic entry/exit pass applications.
Clark is recognized as a promoter of good governance and a business enabler, advocating for Corporate Social Responsibility and strong green initiatives.
“We are now developing a business-interdependence community. This means that if there are products or items being manufactured in the Freeport Zone needed by other locators, we encourage them to trade and collaborate,” the official shared.
To attract further investments, CDC offers various fiscal incentives to investors and locators including income tax holidays, five percent tax on gross income earned, enhanced deductions, Value Added Tax exemptions, and import duty exemptions.
“We are actively engaged in advocating for changes, modifications, or amendments in national government policies to further improve the business environment. We also have non-fiscal policies as well, such as the free flow of goods, special visas for foreign nationals, up to 100% foreign ownership, availability of needed manpower skills, and ease of doing business,” she said.
Devanadera also mentioned the implementation of a land use plan to support locators; as well as the opening of a one-stop shop next month to assist investors in obtaining building permits, business licenses, and other essential documents.
These efforts are all aligned with the national government’s commitment to investor-friendly Freeport Zones and business streamlining; as well as the Marcos administration’s eight-point agenda particularly on the introduction of green lanes to expedite investment processes.
CDC hosts 1,137 locators with a workforce of 127,509, excluding construction workers, outsource employees, and casual workers. (CLJD/MJSC-PIA 3)
Clark Development Corporation President and CEO Agnes Devanadera (center) talks about the initiatives of the state-owned firm to attract more investments inside Clark Freeport Zone. Also in the photo are Philippine Information Agency (PIA) Deputy Director-General for Strategic Communication and External Affairs Katherine Chloe De Castro (right) and PIA Deputy Director-General for Regional Operations Adolfo Ares Gutierrez (left). (CDC Communications Division)
