New Clark City poised to become premier tourism investment hub

The Department of Tourism (DOT) is pushing for the development of the Clark Freeport Zone (CFZ) and the New Clark City in order to further boost the recovery of the country’s tourism industry.

During the first Central Luzon Tourism Investment Summit and Business Exchange (CLTISBEX) Hybrid Edition, the DOT said Clark could be positioned as a modern sustainable aerotropolis and a preferred MICE (Meetings, lncentives, Conferences, Exhibits) destination while the New Clark City could be an ideal destination for sports tourism in the Asia-Pacific region.

DOT 3 Regional Director Caroline Uy said that with the help of the private sector, “ the goal is to transform the Clark Freeport Zone into a preferred business and tourism destination in the Asia Pacific region and enable investors to find long-term economic returns.”

Clark is strategically located in Pampanga where it could be easily accessed by the Philippines’ major foreign tourist markets like China, Hong Kong SAR, Singapore, South Korea, and Japan.

There were a total of 35 foreign and local investors from the Philippines (5), China (25), Singapore (2), Japan (1), Taiwan (1), and United Arab Emirates (1) that participated in the summit.

The event concluded with a total of P127 million investment leads, mostly generated during the Business-to-Business (B2B) meetings among 77 buyers and sellers.

As of end-December last year, Clark is already home to some 1,153 companies which are also referred to as locators. These business ventures provided opportunities to a total of 121,341 professionals and workers inside the freeport zone which originally employed only 20,000 workers at the time of its opening.

In terms of exports, CFZ has since generated a total export of $5.4 billion with a total investment of P265 billion.

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