CLARK FREEPORT, Pampanga — The Bases Conversion and Development Authority (BCDA) and Standard Chartered Bank Philippines have signed a memorandum of understanding (MOU) to explore potential investments and sustainable development projects in Clark and New Clark City.
The agreement seeks to identify areas of collaboration and assess innovative and sustainable initiatives within the Clark Freeport Zone in Pampanga and New Clark City in Tarlac.
Under the MOU, the two parties will exchange knowledge, hold regular discussions and conduct feasibility assessments to identify potential projects that could support development in the two growth centers.
BCDA President and CEO Joshua M. Bingcang said the partnership would help strengthen the development ecosystem along the Luzon Economic Corridor, with Clark serving as one of its key nodes.
“This partnership is a strategic step in strengthening the ecosystem along the Luzon Economic Corridor,” Bingcang said.
Standard Chartered Bank Philippines CEO Michelangelo Kho Samson welcomed the agreement, saying it is consistent with the bank’s objective of supporting sustainable infrastructure development in the country.
The partnership comes as Clark and New Clark City continue to emerge as major investment and infrastructure hubs in Central Luzon.
The BCDA said the collaboration with financial institutions and other private sector partners is expected to help advance projects that promote economic growth, attract investments and strengthen infrastructure in the region.