Clark named one of world's best airports, freeport zones

Clark Freeport Zone and Clark International Airport ranked 8th and 3rd best freeport zone and airport, respectively, in the world by the London-based Financial Times Business Group, which is also the publisher of the Foreign Direct Investment (FDi) Magazine.


With the Financial Times ranking, the Clark Freeport Zone is now part of an elite list of freeport zones in the world, including The Dubai Airport Free Zone (Dafza), the Dubai International Financial Centre in UAE and Shanghai Waigaoqiao Free Trade Zone in China.


Other top zones cited by the prestigious magazine are Malaysia’s Iskandar, UAE’s DuBiotech, Tanger Free Zone in Morocco, Freeport of Ventspils in Latvia, Chittagong Export Processing Zone in Bangladesh, and Dubai Media City in UAE.


FDi Magazine invited 600 free zones from 120 countries to participate in a survey where respondents submitted relevant data about their free zones.


Another member of the BCDA Group, the Clark International Airport Corporation (CIAC) placed third in the magazine’s top five best airport zones in the world.


The Dubai Airport Free Zone topped the list, with Morocco’s Tanger Free Zone landing in second place.


Clark Freeport Zone was also cited by FDI Magazine in 2010 as the 7th Best Economic Potential among the Global Free Zone of the Future for the years 2010 to 2011. Clark Freeport Zone is a wholly-owned by the BCDA.


The Clark Freeport Zone, a 4,500-hectare former US military base in Angeles City, Pampanga, is set to become Southeast Asia’s logistics hub for business and tourism. 


At present, there are more than 533 locators at the Clark Freeport Zone, providing employment to around 65,000 workers in the country.


Bases Conversion and Development Authority (BCDA) President and CEO Arnel Paciano D. Casanova lauded the Clark Development Corporation (CDC) for putting the Clark Freeport Zone at the forefront of the global investment radar.


“The international recognition of one of the country’s freeport zones is an indication that the Philippines is making waves in the global market. We are on the right track,” Casanova said.


Casanova, who is also the chairman of the Philippine Investment Promotions Plan (PIPP) Steering Committee, said the sound economic fundamentals of the country, the country’s recent credit rating upgrade, and now the ranking of Clark Freeport Zone as among the best in the world, solidifies the notion that the country is indeed ripe for new and bigger investments.


Casanova said being ranked 8th in the world is not an easy task to accomplish as he recognized the hard work done by the CDC.


“Through the years, the men and women of CDC have risen up to the challenge and succeeded in making the Clark Freeport Zone among the top freeport zones in the world,” Casanova said.


He added that “the CDC led by Chairman and OIC Eduardo Oban, Jr. is on track in attracting more investments that will translate to more jobs for the Filipinos,” Casanova said.


The recognition of CDC, a member of the BCDA Group, came at the heels of BCDA’s signing of a cooperation agreement with the Turkish Confederation of Businessmen and Industrialists (TUSKON) that would help position the country as an investment destination in the Asia Pacific region.


For his part, BCDA Chairman Felicito Payumo said, “We are definitely bound for a stronger Philippine economy.” He emphasized that the country — given its healthy business climate anchored on integrity, fairness and good governance — will continue to draw attention and interest from the international community.”


The BCDA Group is composed of the Clark Development Corporation (CDC), Clark International Airport Corporation (CIAC), Poro Point Management Corporation (PPMC), John Hay Management Corporation (JHMC), North Luzon Railway Corporation (NLRC), BCDA Management and Holdings, Inc. (BMHI),Bataan Technology Park, Inc. (BTPI) and the BCDA.-Interaksyon (July 26, 2012 9:02PM)